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Semmelman & Semmelman, Ltd.

900 North Shore Drive, Ste. 250

Lake Bluff, IL 60044

Phone: 847-234-4438     Fax: -847-234-4674

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Latest news about Estate Planning, Administration, Wills & Trusts, Business Law, and Real Estate

 


Real Estate Myth #1

Kimberly Wisneski - Wednesday, August 06, 2014

Real Estate Myth:  Holding my real property in my revocable living trust protects me from liability.

We have heard many clients say this and they are surprised when we tell them it is not true. There are many benefits to holding your real estate in trust, but liability protection is not one of them. If you own real estate (whether residential or commercial) that you rent to tenants, you need to consider other forms of ownership that will afford liability protection.   




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