Many estate planning clients own income producing real estate (rentals). While a Maryland LLC (limited liability company) may be utilized to own and manage such real property, owners should know that a Maryland LLC does not protect the owner from claims of the “outside” creditors of the owner.
Stephen R. Elville, JD, LL.M
Steve Elville, of Elville and Assocaites, posts a THOUGHT OF THE DAY, daily on his website. Check it out at http://www.elvilleassociates.com/