Posted by Garrett Sutton on November 10, 2005 at 11:59:23:
Even though you may have adequate insurance, I would consider using an entity such as an LLC or LP to take title to the property. By holding the real estate in the name of your trust you are exposing the assets of that trust to the claims of a creditor involving the real estate. While insurance may be the first line of defense, we all know that insurance companies find reasons not to cover you in certain cases. As well, a jury award can exceed the amount of insurance, leaving your trust assets exposed. Entities are the second line of defense and should definitely be considered. Good luck, Garrett