Is A Land Trust The Same As A Living Trust?
Can someone tell me? When I read the posts here, all I see are references to Land Trusts. However, when I read books on estate planning and asset protection, I see Living Trusts. If they are not the same, which should I use as an investor? <IMG SRC="images/forum/smilies/icon_confused.gif"> [ Edited by aurera on Date 09/14/2003 ]
living trust is like a living will....
the best resource you can have is get a book on real estate terms, mortgage terms, finance terms, etc.... they are sold at the local book store or go online for terms and definitions....
read for yourself so you dont get the wrong info!
A land trust is an organization that preserves wild land - a private version of the national park system. If you sell your land to one, you get some tax breaks.
A living trust is an alternative to a will - you create one and then give your property to it. You manage the property till you die and then it goes where you want it to, but stays out of probate.
I am not a lawyer - do not rely on the above.
Land Trusts allow you, as the benificiary to be, undisclosed. Unlike other forms of holding property, it is very difficult for people to snoop and find out who hs the $. Even with an LLC, a simple search through state records will disclose who the registered owner is.
Can use living trust as the beneficiary of land trust?