Provided by: Jennifer Kirschenbaum, Esq.
February 28, 2023
A little off topic, but I am buying an investment property. Should I use an entity?
Absolutely. Forming an entity is minimal cost (considering the likely expenditure for the investment property) and will give a layer of corporate protection, moving potential liability away from you personally. Corporate ownership will also serve as asset protection, in case you do find yourself with a malpractice or other claim or debts against you personally. An additional consideration, for estate planning and succession purposes, instead of moving deed ownership, you have the flexibility to add and remove members (if reserved in the operating documents).
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