Revocable Trust/Land Trust
Should I put all my personal assets into a Revocable Living Trust and all future properties into a Land Trust? Should I put each aquisition into a individual trust or can I put them into one, adding and subtracting as purchased and sold? Thanx...
You could certainly put all your personal assets into a personal property trust. For your investment property, I would establish a separate trust for each property.
maggiems,
Give me a call we will have a set down together, I will give you the lowdown on Personal Asset Protection.
John $Cash$ Locke
Placing eacch property into a separate land trust protects you in the event of a suit against one of your properties. If you put all the property into one land trust than all your assets are at risk.
I disagree with the statement that having separate land trusts protect you from liability. If you are sued & the beneficial interest of each trusts are held by you personally, you have no asset protection. The Land trust is simply a privacy shield to hopefully ward off potential suits & not making you a sitting duck to identify your assets.