Putting Your Rental Property into a Trust Pros and Cons | Siedentopf Law

[@KerwickPersaud]

Very easy said, thanks

[@candyboyogunade4299]

Can you combine an Umbrella policy insurance with what you said about putting the LLC inside the trust? Also, are you located in Georgia, I would love to book a consultation when I began the real estate process.

[@siedentopflaw]

Yes, I absolutely am all about insurance and umbrella policies. They work with this. And, yes, I'm in Georgia. Whenever is the right time for you, please feel free to schedule a consult: siedentopflaw.as.me/schedule.php

[@NebuChadNezzarKBDN]

In the state of oregon if you have a lifetime trust/credit shelter trust im pretty sure its safe from creditors?

[@siedentopflaw]

I'm not licensed in Oregon, so I can't answer your question. I would recommend consulting an attorney in Oregon.

[@lounic0216]

How do you put an LLC into a trust if the deed of the home is quitclaimed to a LLC? Thank you for the video.

[@siedentopflaw]

That would involve assigning the ownership interest in the LLC to the trust. That way the trust owns the LLC.

[@lounic0216]

@@siedentopflaw thank you

[@bettyjones973]

Explain liability protection??

[@siedentopflaw]

You would need to talk to an attorney in your specific state, but in Georgia, revocable living trusts do not provide much in the way of liability protection for the grantor.

[@anthonyhunt6345]

If you owe taxes can property be taken from u if you have an Llc incorporation and or trust

[@siedentopflaw]

Changing the ownership structure does not change the actions that the government can take if taxes are not paid. So, yes, they still can.

[@om8652]

What about a umbrella policy for the rental property in trust?

[@siedentopflaw]

Absolutely. Umbrella policies are a great idea.

[@rinihaque2946]

how do u do that pls ?

[@siedentopflaw]

Putting property into a trust requires a deed transferring the property from the current owner to the trust. You will probably want to consult an attorney in your jurisdiction for help with that.