Entity Sturcture for Long Term Hold Situation
Hello (I posted this in a subforum but it seems to better fit here). My wife and I are nearing retirement and own a couple rental homes that are finally paid off. So this is simple. No partners, no mortgages, nothing funky. We are looking for the best way to hold our properties for the long haul - the safest way as far as asset protection. Trusts, land trusts, LLCs, Series LLCs, - tons of options. We have lots of insurance, and see Anderson Ads and are near a KKOS office- things I have read about. Our #1 goal is to simply hold our property safely where they can not be sued away from us. We also have a S CORP for our business of 25 years ...we just want each asset to be protected from something gone bad with another asset. (For example an employee of the S corp drives his company truck into a crowd of people and we get 25 lawsuits and they try to come after everything we own). We have a lot of insurances, just want ideas on how to hold assets for the long term safely. All assets are in Idaho. Thanks in advance.