Real estate investing has become increasingly popular over the years and plays a large role in developing asset protection and distribution plans. If you own property other than your personal residence, it’s crucial to take this into account when estate planning and outlining a strategy to safeguard your assets. This will ensure your real estate holdings are properly protected while you’re still alive and will be appropriately allocated after your death.

C. Roland Krueger Attorney and Counselor at Law understands the intricacies involved in preparing for the future. Lexington, NC, residents utilize his services to help them secure their estates and investment portfolios. Here, he discusses the role real estate holdings play in asset protection and estate planning.

Asset protection refers to the process of devising holding companies to keep certain ones away from others. It’s advised any assets you own with the potential to produce liability, such as real estate, be put into a separate partnership from your non-liability assets, which includes your cash, checking, and savings. It’s best for all the real estate you own outside of your primary home to be titled as an LLC. This will prevent creditors from claiming your property.

To make sure your strategies are complete and correctly executed, they should be integrated with a valid estate plan. The estate planning documents you leave behind will provide specific instructions as to how your real estate holdings should be divided among your beneficiaries upon your passing. By combining your plans, you will be given the opportunity to create contingencies for any problems you may foresee impacting your assets.

Estate planning is recommended for most people, but it’s an especially wise choice to establish asset protection strategies as well if you own more than one piece of real estate. C. Roland Krueger Attorney and Counselor at Law makes it easy to devise a comprehensive plan that takes care of all your valuable assets. Contact him at (336) 248-8464, or visit his website to learn more about his legal background.