How should I make out the contract?
Hypothetical:
I have created a land trust that list the beneficiary as a corporation that I have created as well. How should I make out the contracts as a rental property? Should it be in the name of the land trust or the corporation? If it is in the land trust, then anonymity is preserved but is it legal to creat a contract this way?
I'd love to hear from you. BTW, if any of you need info on forming either of the above, contact me at my e-mail!
i believe that for protection, you should use you corporation, for anonymitiy, use the land trust..... try to get a professional opinion if you can, but that's my 2 cents
I'd keep the Corp. Beneficiary as private away and far removed from receipt of any direct payments, compensation etc.
Let the Trustee handle all the perfunctory actions of collections/disbursements etc.
Don't risk losing the inherent protections offered by a Land Trust. The corp. will ultimately obtain any benefits of contributions.
Should you keep the beneficiary in the capacity of collector for the Trust you have to protection should a 'charging order' by a court FORCES your CORP to reveal ALL FINANCIAL TRANSACTIONS and have the Land Trust deemed a 'Dry' Trust or corporate shell operating under the guise of a Trust with NO TRUE Beneficiary!
Just my 2 cents!
Disclaimer I am not a lawyer nor Financial Planning/Consulting Professional, me post is not an attempt to give professional advice. Should the services of a professional be needed then it is recommended you seek the counseling professional.
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