Truth About Setting Up a Land Trust Trustee

Setting up a land trust trustee is one of the best methods you can use for anonymity and privacy BUT won't help if you've listed yourself as the trustee!

Issues can sometimes arise when you go to sell your property if you're using a 'nominee trustee'.

WATCH THE VIDEO and I'll show you a slick way for you to still maintain anonymity & control without a 3rd party trustee!
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ABOUT CLINT COONS

Clint Coons, Esq. is one of the founding partners of Anderson Law Group, Clint has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth.

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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.

also about: land trust llc,

[JtotheRizzo]

So... 1. create a WY single-member LLC as a disregarded entity (no tax election, no EIN).
2. Create a Land Trust whereby you are the Grantor, The WY LLC is the Trustee, and You are the beneficiary.
3. Create a Trustee Deed that says the WY LLC is no longer the Trustee and You are the Nominee Trustee and have it notarized BUT don't record it (to keep anonymity for the time being).
4. Record the property's Deed with the County showing the Land Trust now owns the property, instead of you personally.
5. Record the Trustee Deed only when you need to sell or refinance the property.
6. If refinancing, once new financing is obtained, then redo Step 2.

Is that accurate? Also, what type of Deed do you record when transferring title to the Land Trust? Do you use a Warranty Deed?

[sptheartist]

Question? How many beneficiaries can I place on the trust ? I’ve learned so much by just watching two of your videos. No fluff. Straight to the point.

[bromeo]

Just the information I was looking for! Thanks for the awesome content. I will definitely hire your company.

[workaccount]

Thanks for the great video! I have been researching Virginia Statutes for setting up Land Trusts but I believe they require the Trustee to reside in Virginia. Will the WY LLC work with Virginia law governing the trust? Also, if that one LLC is your Trustee for all lands trusts, couldn't a contingency lawyer just run that LLC name to find all other Titles in that Trustee name?

[zacha]

Clint, excellent video. Don't some states (like FL, mine) prohibit LLC's from being trustees without added licensing and/or bonding requirements?

[fidelxl]

Hey, Clint --- great content as usual. Question --- does it make sense to use one Wyoming LLC as Trustee on multiple Trusts? Or is it suggested that new separate Wyoming LLCs should be opened for each new Trust that is created?

[joeseagl]

Or, in Florida, Indiana, or Illinois, just use a professional trustee company and have it to hold title. Provides anonymity and title companies and others can find the trustee to make sure they’re really selling or mortgaging the property. Show up with a Wyoming or Delaware LLC as the trustee, and the title agent gets a copy of the filed articles, a made up operating agreement, and an affidavit to prove they have authority to sell/mortgage the property. Also, potential tenants can’t verify who really owns the Wyoming LLC so anyone can be taking deposits and rents on the property you hold that anonymously.

[PonoWright]

Great information...Digging more into what your classes offer cause I think as a land investor it may help a ton

[daviddarby]

Great stuff Im using this info to help set up my trustee for a number of projects and give them a income easily to do just about nothing except answer a phone and say do you have authorization from a court order or all of the beneficiaries of the trust that the caller must specify.

[miker]

This is a vehicle type I was trying to explain to a friend the other day in absolute failure.
However you simplified the vehicle stucture perfectly.
I do not want to own any aspects on record. The LLC'S own everything. I only recieve my shares from the partnership LLC to my personal LLC. That way i only have income but no company asset's. I own nothing but get paid for everthing except the Land trust. The land trust does not create or disburse profits. Its simply a place holder like the number zero.

[ionsochirca]

I am assuming that the reason why the WY LLC that is the trustee shall not engage in any other business activities is that if it ever gets sued, a creditor could point out that it doesn't have a licence to become the trustee of a trust.

[Cristian-hubx]

Hi Clint - Great information as always. Question - Do you lose any anonymity by signing the paperwork with your name once you sell the property as the Wyoming LLC member owner?

[donireland]

@Real Estate Asset Protection   So if the property is in Missouri and if I created a WY LLC to use as the Trustee, the deed would look something like the following: Black Family Trust, XYZ Services, LLC (Wyoming) as Trustee.

Then I could be the manager of XYZ Services, LLC. Correct?

[myfantribe]

This was a megatron nugget of information! Thanks for posting. Are you open to assisting investors that close on houses "Subject To" the existing loan. Most attorneys I have met are not aware of this way of buying property and are not willing to educated themselves on this process that is totally legal.

[terrycrawford]

In real-life situations, how does one sue the owner of a piece of property? Does he/she sue the Trustee or the Trust through the Trustee? Who goes to court if need be? Who pays in case the defendant loses?

[TheNAVagator]

Very nice video, i have one question for clarification.

Lets say I have 10 properties in florida. P1, P2, P3.. etc etc.
I want to put each of them into a FL Land Trust, called LT1, LT2, LT3 etc etc
I want my main WY LLC to be the beneficiary, of which I am the Manager and Member.

Now when it comes to choosing my trustee, I have two options. Either I pick someone like a Lawyer, or I use a WY LLC to be the trustee. But seems like you are saying that I should not use my Main WY LLC (which I am using as the beneficiary) as the trustee? Does that mean I have to make another Side WY LLC that I will use as the trustee for each land trust? So the beneficiary for LT1, LT2, LT3 will be MAIN WY LLC, and then the Trustee for LT1, LT2, LT3 will be the SIDE WY LLC?

Can you clarify why I would use two separate WY LLCs for this? Thanks!

[stevenanderson]

What if in a subject to deal you make the old homeowner 100% trustee and attach a “assignment of beneficial interest” document to the trust assigning all rights to you?

Why you can't you buy the property in the name of WY LLC without going through trust? Wouldn't the result be the same - no one will know who's the owner of WY LLC? What do you get by adding a trust?

[msprong]

In this video, Clint shows that he bought the property initially in his personal name before transferring title to trust with LLC as beneficiary. In a title search, they will most likely out 2 and 2 together and figure out that Clint is the ultimate owner of the Trust/LLC. Seems to make sense to buy the property in the Trust name from the beginning if possible. I assume if there is a loan on the property, it won’t be possible to buy it in the trust name. Am I thinking correctly?

[johnyoung]

If using for personal property for asset protection will the LLC tax set up be disregarded since it’s not pulling in any income? It’s strictly their to provide anonymity.

Also can a trustee be also be the beneficiary or would it provide further protection to have both separate entities in a rental situation?