Updated about 8 years ago on .
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putting personal house in LLC for external asset protection.
I have researched this issue and am aware of the tax disadvantages, and there is no mortgage, ie: no "due on sale" clause, and my state only has 10k in homestead exception.
My goal would be to protect my home from personal creditors, ex medical bills. I was thinking of putting home in seperate partnership (spouse) LLC ---seperate LLC from rental property. Justifying that it is my office and stores tools and equipment used in rental business. All I have found on if this will work as asset protection is, "it depends on the judge." Does this sound correct? Thanks