It's A Bad Idea To Have Your Homes In Your Personal Name.
There are several very good reasons to put your home and rental homes into a trust or LLC. One reason is to avoid probate when you pass away. If it is in a trust then you can avoid this long drawn out court process. Another important reason to not have your rental homes in your personal name is to protect against liability. If you were to get sued, and your home was in an LLC, you would protect your personal assets. Owning a home in an LLC also protects your privacy. There are tax benefits that come with putting your rental homes in an LLC which is also nice bonus. Trusts are best for your personal home and LLC's are best for rental properties. If you are ready to buy, sell, invest or need advice on asset protection give us a call. Pinyon Properties is your real estate one-stop-shop! Our 5 star agents are ready to assist.
