Asset protection on your real estate its one of the key factors to be able to sleep sound at night. In a country like the US where most of the lawsuits in the world are filed its paramount that your property its well protected in the case something doesn't go as planned.
Here are some key points:
= Insurance: don't t be fooled to believe that with this you are cover, this is just one single step to get your real estate protected. Make sure you are always cover against natural disaster, you don't want to wait until a flood comes to realise that floods was one of the exclusions in your policy.
= Don't do joint tenancies. In the case one of the persons in the tenancies gets suits you might loose everything too..
= Never use a C corporation (you will pay more taxes)
= Only youse a LLC (or TIC Tenancy in common with both parties protected by a LLC)
= Get a living trust (for provate avoidance) and the LLC (for asset protection)
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