A land trust provides owners with anonymity. This is one of the biggest benefits of establishing a land trust. However, this level of anonymity extends to the transfer of beneficial interest in trust as well.
Beneficial interest allows individuals or entities to receive benefits associated with assets held by another party. Under a land trust, the properties contained within it are considered personal property. Referred to as interests, the transfer of these assets can be done with relative ease. There is no need for a notary, witness, public record, or other such documentation. With a land trust, this provides several important protective measures. For example:
When you establish a land trust, you must designate a land trust trustee. This individual or service (as provided by Royal Legal Solutions) can only act per directions you provide. When it comes to the beneficial interest of a trust, your trustee will need to accept the transfer.
If you have an entity that is named as the land trust beneficiary, the beneficial interests can be transferred without needing a change in the beneficiary designation. (Entities can include, but are not restricted to, limited liability companies (LLCs), corporations, and personal property trusts.) When an entity acts as the beneficiary, the trustee is exempt from the process. This means they do not have to acknowledge the transfer in any way. If you are seeking full anonymity, this may prove to be your best course of action.
The professionals at Royal Legal Solutions understand how important your anonymity is. After all, keeping your net worth from public records can help limit and reduce the likelihood of a lawsuit and aid in future negotiations.
Royal Legal Solutions can provide you with the best support possible. If you would like to speak with a professional about beneficial interest, trusts, corporate structures, or any other aspect of asset protection, please schedule a consultation with Scott and his team today.
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.
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