What paperwork do I need to protect my assets such as houses cash and some rentals? Dan, Connecticut
It is difficult to protect your home with an entity, because as soon as you take it out of your name you lose many homestead and tax advantages. If you are married you can get some protection by putting your home in your spouse’s name, however, often a good insurance policy is the best protection. An LLC is a great way to protect rentals from liability. They are great liability shields for rental properties. If you manage your own properties, it is a good idea to form a management LLC.
