Okay, let's do a poll about this "must own properties in an LLC" idea. Any real world examples of where it saved you, or is it more trouble than it's worth?

[Wayne Brooks]

Many have the perception that they Must own properties in an LLC, for protection of their other personal assets, from that super duper lawsuit they're going to lose, that's for more than their insurance limits.

Thoughts?

Any real world examples of where you actually lost a law suit in an amount greater than your liability insurance?

Are you in the "run your properties responsibly, carry $1-2M liability umbrella, and sleep well" camp?

[Jay Hinrichs]

@Wayne Brooks

I buy in personal name and LLC's I am not in the camp that you need super duper asset protection unless you truly have multi millions in cash that could get grabbed or multi millions in equity.. most folks that spend money on this stuff to protect 100 to 200k of equity are never going to need it and never going to lose the money or equity in law suits.

But lawsuits happen rare as hen's teeth but they do happen.. So a nice umbrella policy is your best defense.. If you get sued.. your llc will get named but you will also get personally named.