Posted by colvegas on January 31, 2006 at 20:28:50:
Pat,
Good info by Mr Bronchick and I actually work with land trust entities in my investing and the problem is most people do not know how to properly structure them to avoid being for example classfied as a dry or abusive trust. AS to the corp an LLC or C corp or whichever you choose you would want to make that entity a beneficiary in your land trust which will provide very good asset protection for you real estate.
Iam not an attorney so check with them and let me know and I will forward to you the 30 benefits of using these trusts in your investing.
If you i can help further you can email me at colvegas07@hotmail.com
I have several rental properties and plan to purchase several more throughout the year. I’m looking into pre-foreclosures as well as buy-hold properties as rentals. I have a spouse/partner and we’re exploring the best way(s) to protect our assets - both from a tax perspective as well as general family perspective. (Protect each other and keep the relatives at bay in case of an accident/death - god forbid)
I’m new at all this so hope my question is clearer than mud - any suggestions for the best way to approach this?