Asset Protection - LLC or no LLC?
Hi all!
I live in Florida, however, just closed on a duplex in Ohio. The duplex right now is under my personal name. I want to transfer it to an LLC but it will trigger the due-on-sale clause. I'm reading that we can setup a land trust that holds the property and have an LLC as the beneficiary to still reap the benefits of an LLC and to avoid the due-on-sale clause.
1) Are there any other ways you suggest to protect this property?
2) Also, if I were to open an LLC. Is that something I file paperwork for in Florida or in Ohio?