Title holding trusts for real estate, also known as revocable living trusts or grantor trusts or land trusts, can provide a variety of benefits. Some say they go back as far as Ancient Roman times but certainly used at the time of Henry VIII. Long before Corporations.
They are CONTRACTs that act like ENTITIES that need no GOVERNMENTAL APPROVAL or PERMISSION. Unlike LLCs that do need permission from the STATE to EXIST and . . . at a cost. I’m not just talking about the STATE’s LLC Fees but the cost of disclosing who the Member (owner) is of the LLC.
The beneficiary of a Land Trust is NOT DISCLOSED of PUBLIC RECORD. Is that Important to you?
It should be!
Let’s talk about some of the Benefits of deploying this new operating system for holding title.
Each trust is a separate contract and entity. If you were to get a judgment against one, it would not impact the other assets you own.
When real estate is held in a title holding trust, it is not subject to probate upon the death of the grantor. This can save time and money for the grantor & beneficiaries and help avoid potential delays and complications associated with probate.
Because the transfer of assets to a title holding trust is a private matter, it is not subject to public record. This can help maintain the privacy of the grantor and their beneficiaries.
Title holding trusts can provide protection from creditors, judgments, and lawsuits, as the assets held in the trust are not directly owned by the grantor.
Title holding trusts are revocable, which means that the grantor can modify or revoke the trust at any time. This allows for flexibility in managing and distributing the assets held in the trust.
Title holding trusts can be an effective tool for estate planning, allowing the grantor to plan for the distribution of their assets and to provide for their beneficiaries in a structured and tax-efficient manner.
The quickest way I know to transfer what I have learned over the last 42 years on the topic of Land Trusts is go to www.TrustFirewalls.com. Purchase the course which consists of recordings of 2 x 3 day courses presented by Walter Wofford and Steve Zehala. 20 hours plus the manual with all the forms. I will help you if you get stuck. Walterwofford@gmail.com