matrix 0 Report post Posted November 1, 2004 Does incorporating provide protection of a trust against lawsuits? Thanks. Share this post Link to post Share on other sites
Craig 0 Report post Posted November 1, 2004 It does help pertect your personal assets because it is considered a seperate enity. Although, I will say if you are doing this part time, beware. If you lose your full time job due to layoff you can't collect unemployment insurance because you are still gainfully employed through your corporation. So make sure you have a income before you do a LLC which is what I recemend for this type of BIZ. If more layers of pertection is needed create a Chapter S corp with 2 LLC's under the Chapter S. Use one LLC for Lease Purchases and the other LLC for Buy and Hold. You can balance your profits between the 2 LLC for a greater TAX advantage.Also sell the home as a land trust to the other LLC for ease of closings and paper work. Land Trust do have advantages once you get the contracts inorder with your attorney. Share this post Link to post Share on other sites
