Umbrellas etc?

I've read about LLC vs umbrella insurance.

I decided I would stick with having the property in my name, and purchase an additional umbrella policy, which gave me ease despite the fact that I'm stuck paying the $800 LLC fee in California for this year even though we will not have even used the LLC.Anyway, the problem is my partner now has come up with his portion (50% of downpayment) and wants me to transfer 50% interest in the duplex to him via a grant deed.

That means an actual landlord's policy on the rental property  (if you have a homeowners policy,  change it quick)  AND umbrella liability coverage policy on everything you have.  

I probably jumped the gun because I went on LegalZoom and set up my LLC, and now I'm learning maybe I didn't need to do that as I also have an umbrella policy on my personal insurance coverage and there are other entities such as Trusts which I should have looked into.

I bought a land recently and my insurance "Libery Mutual" said I cannot insure land and cannot even put it under umbrella policy.

Jaclynkb,May I suggest in the mean time, as you check with CPAs and Lawyers, to get an umbrella coverage.

I thought of deeding the property to our personal names and then getting a 1-2 mil umbrella insurance policy as an option.

3.No need to create LLC, buy umbrella policy up to 1 million.

As an investor in turnkey properties (with teams in place), I use  umbrella insurance to make sure that I have good coverage for any liability that might arise due to properties I own.