If no will, in my state, the belongings go to the children first, then if no children, other relatives. 

Our key to success has been a fantastic lease, not giving in to problem children and treat in this like a business.

In 2 hours I had her on board to subdivide the property providing moderate income homes and handicap accessible units with a park and water feature for the little children to play!

And I'm already at a $0 tax liability because of children and other tax deductions. 

We bought our first 100+ year old house as newlyweds (read: naive children) in 1998 and have lived in and renovated several since, selling for a decent profit each time and learning how to do things like remove milk paint, do plumbing and wiring, and jack up a porch to replace failing beams.

Likely one of us will work full time while the other focuses on REI and our children.

But they say, God watches out for fools and little children, and lo and behold I'm continually getting better and I really enjoy doing it.

Share the shade and friendly atmosphere with a children's playground, Clubhouse and beautiful pond. 

So long as they're not damaging your property, let them be children.  

If you own the property, and the property is not worth enough to satisfy the judgment, then the creditor will take the property AND THEN go after your personal assets -- that means your house, your car, your 401(k), your children's 529 plan, your baseball card collection, your monthly paycheck.Insurance is another must, but it does not replace an LLC.