How can I protect my home from a lawsuit?

by Ms. Kon
(Los Angeles, ca, usa)

I have two properties. One I live in and the other is a rental income. A tenant is suing me and it does not look good. What can I do to protect the property I live in? Thank you.

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May 22, 2012
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by: mo

There are a number of things to consider, like your State's homestead laws, which may already afford you certain protections. You also might want to consider a Personal Residence Trust which can have tax benefits as well as asset protection benefits.

Either way, you should definitely talk to a local lawyer who specializes in estate planning and/or asset protection.

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