Understanding: Land Trusts
Who Benefits from a Land Trust?
- High-income earners
- Service professionals
- Those concerned with the public being able to identify details about their real estate assets
Land Trust vs Traditional Trust
A land trust is different than a traditional trust because it does not address the client's other assets and is not a comprehensive estate planning vehicle.
How Many Do I Need for Each Property?
You can hold all of the properties you own under one land trust. There may be reasons to hold properties in separate land trusts, so speak with us about the best structure for your situation.
When the property is held in a land trust, a judgement against one of the beneficiaries does not automatically equal a lien on the real estate, so there is an extra layer of protection.
Who are the Trustees?
The "Trustee" holds title to the property and you will be named as the beneficiary of the trust. Typically, the trustee is a corporate trustee affiliated with a company established for the purpose of holding multiple land trusts. This ensures professional handling and protection of your land trust.
Acquiring a Land Trust
Kershner Sledziewski Law provides legal services and assistance on setting up a land trust to hold your property. We will guide you through the process and ensure professional handling and protection of your land trust. For more information, contact us to schedule a consultation.