On Fri, 12 Jan 2018 20:01:47 -0500, Alex wrote:


I'm looking at land. Residential lots in SW FL and some acreage in
Central FL. All would be held in an LLC but I need to find out if I
still need to carry liability insurance in case some idiot trespasses
and gets hurt.

I would never be a landlord for the reasons you mention.

Short answer, yes, unless you are willing to give up all the assets of
the LLC, usually the property.
I also would not count on a lawyer trying to penetrate the LLC and
coming after you personally. Even if it is unsuccessful, you may still
end up paying the lawyer tax.

wrote:
On Fri, 12 Jan 2018 20:01:47 -0500, Alex wrote:


I'm looking at land. Residential lots in SW FL and some acreage in
Central FL. All would be held in an LLC but I need to find out if I
still need to carry liability insurance in case some idiot trespasses
and gets hurt.

I would never be a landlord for the reasons you mention.
Short answer, yes, unless you are willing to give up all the assets of
the LLC, usually the property.
I also would not count on a lawyer trying to penetrate the LLC and
coming after you personally. Even if it is unsuccessful, you may still
end up paying the lawyer tax.

If liability insurance is cheap enough, I would just buy it. I have a
personal umbrella policy for $2MM in case something got out of hand.