Trustee Services
We serve as the trustee for your trusts
Trustee Services
We provide trustee services, meaning we will act as the trustee in land trusts. We currently act as the trustee for multiple properties only in the US.
Simply Stated
The first benefit of a land trust is for the anonymity it provides as to who the owner is. Once you acquire many properties you will become a target for lawsuits, if you have your properties in trusts then it will be hard for someone to figure out you own a lot of assets. The second benefit is to avoid capital gains when transferring to heirs and potentially avoiding probate. We can also buy houses using the subject-to method through trusts. It is a layer of asset protection that has less costs and headaches that an LLC brings. There is not a need to file a separate tax return for a land trust.
It is essential for the owner of the property or their relatives not to be the trustee on their own property to ensure it can't be traced back to you as the trustee's name will be available on public record. We serve as the trustee on trusts to ensure you remain anonymous and avoid troubles such as lawsuits, probate, and capital gains once the property is transferred since it remains in the same trust but the beneficiary has changed.
What is a Trust?
A trust is a legal arrangement that allows a person or entity (the "trustee") to hold and manage assets on behalf of another person or group of people (the "beneficiaries"). Trusts are commonly used for various purposes, including estate planning, asset protection, and managing wealth over time. They provide a structured way to control and distribute assets while often offering benefits such as privacy, tax planning, and the ability to customize how assets are managed and distributed.
Here are the key components of a trust:
Trustor/Settlor/Grantor: This is the person who creates the trust and transfers assets into it. The trustor's role is to outline the terms and conditions of the trust, including how the assets should be managed and distributed.
Trustee: The trustee is responsible for managing the trust's assets and carrying out the trust's instructions. Depending on the type of trust, the trustee may have various levels of discretion and decision-making authority.
Beneficiaries: These are the individuals or entities for whom the trust's assets are intended. Beneficiaries can receive income generated by the trust's assets and/or the assets themselves, according to the terms of the trust.
Assets: These are the properties, investments, funds, or any other valuables that are placed into the trust by the trustor.
Terms and Instructions: The trust document outlines how the assets are to be managed, invested, and distributed. This document may specify conditions under which distributions are made, such as reaching a certain age or achieving specific life milestones.
Land Trusts
A land trust is created by the property owner (grantor or trustor) by drafting a trust agreement that outlines the terms and conditions of the trust. The trust document specifies the trustee, beneficiaries, and the property to be placed within the trust.
Trustee: The trustee is responsible for holding and managing the property on behalf of the beneficiaries. The trustee can be an individual, a corporate entity, or even the grantor themselves.
Beneficiaries: The beneficiaries are the individuals or entities designated to benefit from the trust. They have certain rights related to the property, such as the right to receive income generated by the property or any proceeds from its sale. The beneficiary is the real owner of the property, they are typically the original property owner who created a trust for its protection.
Property Transfer: The property owner transfers ownership of the real estate asset to the land trust. This transfer is often done through a deed that conveys the property to the trust. The trust becomes the legal owner of the property, and the property's title is held in the name of the trust.
Privacy: One of the primary advantages of a land trust is privacy. Since the trust is the legal owner of the property, the grantor's identity may remain confidential. This can be particularly useful for individuals who value their privacy or wish to avoid unwanted attention.
Asset Protection: Land trusts can offer a degree of asset protection. By separating the property from the grantor's personal name, the property is less susceptible to legal claims or creditors' actions against the grantor.
Estate Planning: Land trusts can facilitate the transfer of property upon the grantor's death, potentially avoiding the probate process. The trust agreement can outline how the property should be distributed to beneficiaries, streamlining the inheritance process.
Contact us if you are interested in using our trustee services