How to protect my house?

I am single and own a house in s. california. Sitting on somewhere between $400k to $500k of equity, I start to worry about losing my house due to lawsuts or some other stupid things. you know, just in case. Basically, I want to get my name off the title and still be able to "own" the house, so people have no interests to sue me.
What do you think about the following ideas?
1) pay off the mortage and grand the deed to my parents (I am the only child they got)
2) Find a trust (would it work?)
3) Buy a million dollar umbrella insurance every year? (kind of costly)
Any other suggestions?

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• umbrella insurance is about $250/year -Ted2006- ♂ (0 bytes) () 10/25/2006 postreply 15:27:15

• really? I was quoted $1000 for 1 Millon coverage per year -socalracer- ♂ (0 bytes) () 10/25/2006 postreply 15:35:26

• a simple way -autumnmoon- ♀ (226 bytes) () 10/26/2006 postreply 05:58:43

• may not work in my case. Here is why -socalracer- ♂ (280 bytes) () 10/26/2006 postreply 11:04:26

• sound good idea -autumnmoon- ♀ (95 bytes) () 10/26/2006 postreply 13:08:29