Trustee? - Posted by ChrisW

Posted by Jim IL on January 24, 2001 at 23:41:53:

Here is an idea.
Make yourself the trustee, and create some sort of entity (LLC, corp. ?) and have that be the beneficial interest in the trust.
Just my thoughts,
Jim IL

Trustee? - Posted by ChrisW

Posted by ChrisW on January 24, 2001 at 21:01:55:

To those of you that take title to real estate in a land trust, who do you use as your trustee? family, friends? I can’t think of anybody that would be suitable. Any reccomendations? Thanks

Re: Trustee? - Posted by eric-fl

Posted by eric-fl on January 26, 2001 at 08:56:10:

A lot of people use attorney’s for this. Many charge a nominal fee of something like $100 a year, as there is not much work for them to do on this. If you make yourself trustee, and you LLC or corp. the beneficiary, then if someone sues you, and conducts an investigation into your assets, your name will come up, even on the properties held in trust. One of the primary benefits of trusts is for privacy, which may be negated if you name yourself as trustee.

Re: Trustee? - Posted by Randy M

Posted by Randy M on January 25, 2001 at 10:02:20:


What sort of land trust do you have? Is it revocable or irrevocable. That makes a big difference because if it a revocable trust, you can be the trustee. What are you hoping to accomplish with the trust? Is it for asset protection? Privacy? Some other reasons? Which state do you live in?

Let me know the answers to these questions and I can probably give you some ideas.

Randy M