It is worth repeating...
Forming an LLC is a good business and personal practice if you own rental property. It can be also be incorporated into your estate plan. A good estate planning attorney will address this aspect as they review your holdings and look for ways to protect you and your loved ones.
Of course, estate planning is not asset protection and vice versa.
Read TLD attorney Brooke Pollard's excellent post on LLCs here on our General Counsel blog. Also, here is a link to the Secretary of State's Business Portal on LLCs. Hiring an attorney to prepare your LLC is more than just filling out forms -- we also assist with preparing the LLC operating agreement among the LLC members and help you with a myriad of issues related to its formation.
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Estate
Planning, Probate and Trusts involve complex areas of law. Individual
circumstances must be considered before any advice can be given. The
general information above is not to be construed as legal advice, which
can only be given after consideration of the unique facts of each
matter. Please seek the advice or counsel of your attorney, financial
advisor or CPA as it may be appropriate.
Here's an article discussing the tax advantages of LLCs over S corporations:
http://llcoperatingagreement.blogspot.com/2008/05/tax-advantages-of-llcs.html
Perhaps you could elaborate on why LLCs are a preferred over S corporations for estate planning purposes--i.e., "qualified subchapter S trust" (QSST) rules.
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