The person being taken off the lease is not wanting to live there anymore and by law can terminate early in Indiana due to protective order being filed against roommate/girlfriend.   

The more I am reading and listening, the more concerned I get about liability protections.

Just make sure you protect yourself legally, so you don’t end up with half a house you can’t do much with.

This must produce positive cash flow to protect downside. - Understand the upside of the "rent by the room" strategy- Understand the upside of any repairs that can be made to the main unit. - Understand the cost/value of completing an ADU project- Underwrite mid-term and short-term upside cases as well. 

I know LLCs are a protection tool with no tax incentives but with those come higher insurance/fees versus staying in your name. 

Key issue is to protect your family.

I am very confused what a 401k trust is because I don't see it listed in the types of available trusts below.https://wyomingllcattorney.com/Wyoming-Asset-Protection-Trus...I know land trusts don't offer liability protection if the tenant sues the trust's beneficiary.

It helps you establish one economic unit to meet material participation hours.If you are in higher income tax brackets, I suggest getting a multi-member LLC for audit protection.

If you have the mortgage in you name, would the LLC provide any protection against a lawsuit?

A year ago my asset protection cost doubled over night.