Protection of your personal assets: LLC or increase insurance?
WOW, were were looking into putting our few units into an LLC to protect our personal assets in case tenants sue, and my accountant just advised me that apart from paying to FORM an LLC, there will also be an 800$ tax/year for California (we live here). The accountant expressed his disbelief in the advantage of creating LLC and recommended to increase our insurance.
How do you guys protect your personal assets?
Thank you!
Edita :)