Updated about 12 years ago on .
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Is LLC necessary with umbrella?
Just took out a $1mil umbrella policy to cover my 3 single family homes. It only cost $323/year and seems like less work and tax prep then opening multiple LLC's.
What are the disadvantages and risks of going this route. I know some people do a LLC with each property, some do umbrella, and some do both - is that overkill?