Does Your Primary Residence Need an LLC?

In this episode of Coffee with Carl, attorney Carl Zoellner covers how to determine if your primary residence could benefit from an LLC.
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The first thing to consider is, what’s your state’s homestead exemption? We always start with our asset protection offered in the state laws, looking at what is already available to us. If I’m looking at Texas or Florida, they have unlimited homestead protection, and your homestead protection is the amount of equity in your property being protected.
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Carl Zoellner, Esq. is a senior attorney at Anderson Business Advisors who specializes in strategic planning for business owners with a focus on asset protection and tax planning. Carl speaks across the country to educate small business owners on the tools available for their investments from legal and tax perspectives.
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Disclaimer
The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
#llc #primaryresidence

[@paulross2979]

Makes sense.

[@babarmirza834]

what about llc for the primary residence, but the plan in the future is to make it into a rental property?

[@coffeewithcarlaba]

Great question, in order to assist you further, I highly recommend you request a free 45-minute consultation to discuss our proven asset protection and tax strategies and how they apply to your unique situation. Sign up here: aba.link/carlss

[@commasNculture]

Hello so I live with my father and 5 years ago he made a business decision to refinance his home through hard money. It’s a short term loan where none of the payment goes to the balance owed. This balance is now due. He doesn’t have the funds. What would you suggest? It’s currently in his LlC but I have an LLC as well. None of the bills are in my name but I do work from home both a job and business

[@coffeewithcarlaba]

It sounds like your father is facing a challenging situation with the due balance on his hard money loan. In order to assist you further, I highly recommend you request a free 45-minute consultation to discuss our proven asset protection and tax strategies and how they apply to your unique situation. Visit: aba.link/carlss