Attorney Andrew Bethel, discusses whether real estate assets should be placed in a trust or a limited liability company (LLC) for estate planning purposes. The baseline rule is to make sure the real estate assets avoid probate by putting them in a trust, which is the simplest and least expensive method. A land trust is a type of trust that specifically manages real estate assets, but for most people, an LLC is a better option for real estate investing as it offers a higher level of legitimacy, separates business and personal assets, and makes it easier to sell the business. However, people may easily overcomplicate and overspend when creating multiple LLCs for each asset. There are specific factors to keep in mind when deciding whether to use a trust or an LLC.
00:00 - Intro
00:52 - Put it in Trust
01:20 - Don’t Overcomplicate and Overspend
01:52 - The Trust, Simple and Inexpensive
02:33 - Land Trusts
03:34 - The Limited Liability Company (LLC)
06:23 - Trust vs LLC Considerations
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Disclaimer
Viewing this video does not create the expectation of an Attorney-client relationship. The information from this video is for general information purposes only. Nothing should be taken as legal advice for any individual case or situation.
6 авг 2024
