Protecting my private lenders

[Ashley C.]

Hi everyone and thanks in advance. Please advise you best to protect my private lenders in case I die or become incapacitated and can't run my business? One post suggested adding the PL to my personal life insurance and adding an operating agreement clause stipulating the PL gets paid from life insurance proceeds. Sounds simpler than figuring out how to posthumously finish a rehab, sell the house, and pay off the lender.

That leads into what mechanisms should I put into place to wind down in-progress deals, but that's probably a topic for another post! (rescinding offers, finishing in-progress rehabs, finalizing selling rehabbed properties)
:mrgreen: