Posted by Garrett Sutton on February 23, 2004 at 09:51:49:
Darryl: There is no problem deeding the property to an out of state LLC. You may want to check to see if the Nevada LLC must be qualified in Alabama. If it is doing business there (ie collecting rents) you certainly will. With your private residence that doesn’t seem to be the case. Some states do not require qualification if you are a passive holding entity. Check with your Sec. of State’s office. The living trust will offer you no asset protection. Your Nevada LLC will be owned by the living trust. The two work together to give you asset protection and probate avoidance. Good luck, Garrett