Confused about my living trust

[Daniel Mills]

Hi guys,

I feel like I have been taken, but I am not sure what to do. I went to a big name real estate attorney regarding asset protection and estate planning. I was advised to put all of my properties into LLCs and to form a living trust and move all my assets in there. I decided to wait on the LLCs because there are so many different arguments here about whether or not they are necessary. But, I did the living trust. It cost me $3,500 plus a few $100 in notary fees. Now, I am getting ready to transfer my property in and they said, "oh no you don't put rental property in an LLC, only a personal residence." My personal residence is in Japan! I can't put that in my US living trust.

Is this true? Is there a reason I can't put my rental properties in a trust? I asked them as well but I haven't heard back.

Any advice?

Thanks,

Daniel

[Tom Gimer]

@Alpesh Parmar Further confusing the guy who is confused about his living trust is not helpful.