Estate Planning Articles

 

Land Trusts

 

A "land trust" or "title holding trust" is often set up to maintain privacy over the ownership of real estate.

The concept is simple. You transfer title of the property to a corporate trustee or corporation, yet you keep control over how the property is managed. Because the title is in the name of the corporate trustee or corporation, no one will ever know that it belongs to you. In all financial transactions and dealings, your personal name never comes up.

Land trusts are valid in most states and the cost to have an outside trustee administer them is very low. However, because of the liabilities associated with contaminated property, it is becoming more difficult to find a corporate trustee who is willing to act as trustee.

 

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