Although choosing a trustee for your land trust is an important thing you have to do for your property or assets, it is also a hard decision to make. Should you choose a private trustee or a banker or other institution? Although it may seem like an easy task, it isn't. Here is some more information how how you can choose to search for a private trustee or an institutional one.
There are many advantages and disadvantages of choosing a private or individual trustee for your land trust. Keep reading to learn more.
Pros for Choosing an Institutional Trustee
Thinking about each pro and con for private trustee and institutional trustee and weighing them will help you make a final decision for your preferred trustee. Take your time and really weigh them together. Although it seems that an institutional trustee may be the best decision, it is very important to really think about each advantage and disadvantage of both types. Choosing the right one for your trust is the first and most important step in forming the trust for your property or assets. After choosing the right one, you can then move on to the next steps in forming the trust for your most important assets and property.
Scott Royal Smith is an asset protection attorney and long-time real estate investor. He's on a mission to help fellow investors free their time, protect their assets, and create lasting wealth.
Ready to know more than your attorney? Join our community platform where you'll get immediate FREE access to all our best educational resources for real estate investors. Including 8 Masterclasses, group mentoring replays, and much, much more.
Join thousands of real estate investors in all 50 states as they enjoy exclusive content, special promotions, and behind-the-scenes access to me and my guests. No spam, ever. Just great stuff!