A Look at Asset Protection for Landlords

When you have been able to accumulate resources, you have to protect what you have earned. Without question, we live in a litigious society, and there are always those who are willing to sue. For this reason, asset protection is a top priority for some people. Anyone can be the target of a lawsuit, so you should remain vigilant regardless of your occupation. At the same time, people who engage in certain endeavors are particularly vulnerable to lawsuits. Landlords would fit into this category. Family Limited Partnerships One asset protection structure that can be used if you are a landlord is the family limited partnership. The anatomy of a family limited partnership involves a general partner, and limited partners. If you establish and fund a family limited partnership, you would be the general partner. As the general partner, you would have total decision-making authority. You add limited partners when you are creating the partnership. As the name would suggest, the limited partners


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