Posted by Bud Branstetter on December 27, 2000 at 23:46:11:
Put the title to the property in the land trust. The Beneficiary should then be an LLC. If you want more protection have the wife form an LLC and have Co-beneficiaries. The land trust is transparent to the IRS. You report under the LLC tax return. The income will flow to you personally via a K1. You can have multiple trusts with the same LLC as beneficiary.
Question for Bill Bronchick - Posted by Dave in KY
Posted by Dave in KY on December 27, 2000 at 21:02:05:
Is it better to put each individual property in a land trust or an LLC? I was going to use the land trust but my attorney is telling me the LLC’s offer more protection. His reasoning is that nobody in my area uses land trust and it may not be recoginized in a court of law. Also if I do use the land trust is it better to have me as the beneficary or my company?