Hello BP members,
I am considering placing my rental property into an LLC for liability protection and dropping my umbrella insurance due to a spike in the rates and the fact that we don't own an automobile.
As I am learning about the protection from an LLC, I am learning that there is a lot to it (i.e. what states to file the LLC due to the protection they provide, like Wyoming or Alaska as examples of being better states for an LLC protection and anonymity as well as creating a Master LLC to place an LLC for each property into to distance myself from the property).
Any landlords been protected from a past lawsuits from tenants or others in an LLC where care was not given to the state filed in or creating additional separation from the property through a Master LLC?
Up 2 u.
Only thing I push back on. It's not hard to operate.
Don't buy diapers using your business acct.