Land Trust, Who Should Be The Trustee? Me Or LLC
i was wondering when the property is deeded to the trustee of the land trust, will that be me personally or my LLC. if thats the case what will i say to the lender when calling about loan info, should i say im the pres. of the LLC which is the trustee or what? wouldnt that defeat the purpose of the trust. also when filling out power of attorneys, should i put myself on them or my LLC. Thanks, any insight or info would be great. Jeb.
If you are using the trust for anonymity, you want someone not tied to you to be the trustee as it is public records. Having an attorney as the trustee is ideal as it is one more level someone has to go through to sue you (attorney-client priveledge) You typically want your LLC as the beneficiary. HTH
Sorry, I didn't notice the date on the original post. My bad.[ Edited by jeff12002 on Date 06/28/2004 ]