The real question is where the asset is, not where you live. The goal of the DAPT is to protect the ‘asset’ from your liabilities, not to protect ‘you’.
More and more real estate investors are adding ‘short-term rental’ properties to their portfolios and with a lot of success. However, many still have questions about where to place them in their tax and legal structure.
Single-Member LLC’s have their place in the spectrum of business entity choices, and whether such an entity is right for you will depend on the details of your own personal situation.
I truly believe that an LLC for every rental property isn’t needed for the far majority of real estate investors. It’s expensive, cumbersome and provides nominal benefit when there’s not a lot of equity in their rentals….yet!!
For most of us, our home is one of our most valuable assets. It truly is our “castle”, but it can also be one of our most vulnerable assets. Here are 8 strategies that should considered in a well designed Asset Protection Plan.
Choosing the State in which to set-up your corporation or LLC is actually a very straightforward decision. Don’t let someone talk you into setting up your new entity in Nevada, Delaware, Wyoming or Utah…just to name a few.
It’s scary for many of us to think where our address is posted publicly and how easy it would be for someone to find it.
A Charging Order Protection Entity (COPE) is a unique type of entity that can provide additional protection for the assets it holds from the owner’s personal liabilities. It is far more advanced and complex than the average LLC.
I meet one on one with at least 1,000 clients a year to discuss their business
There are several ways to handle a parent’s home depending on their particular health or financial situation. At a bare minimum, your parents should have a Revocable Living Trust to ensure the orderly and effectively transfer of the home to the family and avoid probate in states where the expense is significant.
I recommend to ALL of our clients to purchase at least one rental property a year for tax planning and wealth building benefits.
This tax incentive allows investors to reduce taxable gains and possibly obtain tax-free growth if they re-invest capital gains into real estate within designated Opportunity Zones