4 ms·
Owning your family home through an LLC, depending on your state, is often a bad idea. There are generous protections in most states for your personal home that
by jmyeet 10mo ago
Owning your family home through an LLC, depending on your state, is often a bad idea.
There are generous protections in most states for your personal home that you lose if it's owned by an LLC. This includes things like a homestead exemption in bankruptcy protection.
In Florida, for example, there are better options to keep yourself anonymous. Florida has something called a land trust [1].
[1]: https://www.jimersonfirm.com/blog/2024/04/understanding-the-florida-land-trust-act-when-and-when-not-to-use-a-land-trust/ https://www.jimersonfirm.com/blog/2024/04/understanding-the-...
- sigwinch 10mo agoI feel like mortgage lenders should legitimately wonder why they’re lending to an LLC or a trust rather than an individual. I’m not sure there’s a good answer.