Attorney Recommdenation for Asset Protection Regarding Personal Guarantee

searcher profile

October 17, 2023

by a searcher from Babson College - F.W. Olin Graduate School in Boston, MA, USA

Hello,

Does anyone have any recommendation for attorney who you recommend for protecting personal assets. I have a primary home, and couple rental properties and wanted to see what my options are in terms of putting them in a land trust, LLC, etc. before I sign a PG.

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commentor profile
Reply by a lender
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA
The SBA has a six month look back for any assets you own and have changed title on just so you are aware. Also, if you are the beneficiary of the trust you still technically own the properties and they should be reported on your personal financial statement. The Bank would then require the trust to sign the mortgage on an SBA deal.
commentor profile
Reply by a searcher
from Texas A&M University in Elizabethton, TN, USA
SBA or other? Ask loan officer about look backs.

Do you have a spouse? Divide up titles.

Will taking things off your PFS hurt your ability to finance deal?

Find a trusted local attorney that knows your states BR code.
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