Is there anyone that is very well informed about Land Trusts? I hear this is a good way to protect your assets besides incorporating? Any help out there to tell me how to I put my properties in a Land Trust? :-?
Land trusts are good for hiding ownership (the whole control don't own mantra) but if you end up in court, you would rather have an LLC than a land trust.
AS for as how to, have a lawyer create a land trust agreement or get a sample out of Bronchick's or Warda's books, do a warranty deed or quit claim (depending on your state) into the land trust and be sure to have a trustee with a different last name than you.
Land Trusts do what they were designed to do. Asset protection is not it.
They do offer you a minimal level of anonymity, but no real asset protection.
Jeff
Land trusts are good for hiding ownership (the whole control don't own mantra) but if you end up in court, you would rather have an LLC than a land trust.
AS for as how to, have a lawyer create a land trust agreement or get a sample out of Bronchick's or Warda's books, do a warranty deed or quit claim (depending on your state) into the land trust and be sure to have a trustee with a different last name than you.
GL
[addsig]