You've taught me more than any professor. Your videos are going to litterally send me to the website and cause me to spend my hard earned cash for more wisdom. *take my money now*
I have like eight lots and I don't know what to do I found you in Google I wasn't even trying to find this and then I saw this and look at my God let me press it and then I pressed it oh my God this is amazing this is right up my alley but I don't know what to do so yeah I have to watch you watch the video
Other temperature business meeting but I describe to your channel so I can come back later on and watch it very interesting but yeah I don't know if I have eight lots do I do a land trust or do I do a living will for my kids legacy yeah we got to talk
Great video as always... I'm in California in regards to the land trust can I still use the limited partnership instead of llc to avoid the franchise tax board $800. Also how would this work if I have a duplex and want to protect each unit from each other since I live in one and rent out the other and don’t want to lose both due to a tenant law suit.
I would transfer one unit into a disregarded LP or a WST. The personal side you could put into a land trust. On title the property would be held as a TIC between the 2 entities.
Thanks for this! I had no idea about land trusts and we already put our home (which is currently used as our primary residence) in a revocable living trust. We hope to rent it out next year - does that mean for optimal asset protection we should get rid of the living trust to put it in a land trust/llc structure?
Watch this video I created on turning your personal residence into a rental then reach out to set up a strategy session: th-cam.com/video/MWFzAE7wu3k/w-d-xo.html
But which one is essentially better though a living trust or a land trust ? Because both is good depending on how u use it. But my question is which one should i use where one will weigh more than the other?
Both are different. A land trust is used to hold title to real estate to provide anonymity. A living trust is an estate plan that you use to hold all of your assets (including your beneficial interest in a land trust).
If you create Wyoming LLC as trustee and beneficiary, can this land trust be used to buy properties in CA? Do you have to file this land trust to the CA state?
Hey, thanks for your video. So would it make sense to create a living trust, and a land trust, and funnel that info from the land trust to the living trust? Or do you feel that you dont need both? Really confused with how to structure our properties!
The living trust is for estate planning and the land trust/LLC is your asset protection. You need both. If you would like a FREE 30-minute consultation, you can request one here - aba.link/clintss
To me, the assignment of beneficial interest without being recorded, will create a re-assesment of the property effective the date of transfer. So if the county eventually knows 5 years in the future, the new owner would have to cough a lot of property taxes for the last 5 years. And there is no step-up basis for the new owner. But if the grantor is not going to do any re-assignment, the land trust becomes a standard trust - holding title and no probate. That is my understanding anyways.
Correct - if you assign the beneficial interest to a 3rd party this will result in a reassessment and you are obligated to file any necessary change of ownership. So long as you remain the beneficial owner (directly or indirectly) a reassessment should not apply in most situations.
So if you want to buy real estate or transfer real estate that is already in a C corp name into a land trust with your heirs or an LLC as the beneficiary and still have privacy how should the real estate actually be titled? Can you give an example?
if I transfer a property to my beneficiaries from a land trust, and they decide to sell it, will there be capital gains taxes on any gain? thank you for your expertise!
Hi Clint - you say you’re the trustee of your trust. In previous videos you’ve said you should never be the trustee, because it removes the anonymity. Why not just use a trustee services company as trustee?
You can use services of a trustee company but what you refer to in the video is the living trust. With a land trust we will use an entity but yourself on a living trust.
Min 5. Your land trust should be in an LLC. That made me a little confused. I thought that the property was owned by the land trust and the beneficiary of the trust was the LLC?
@@ClintCoons Thanks. Properties are already in a NV llc, which is owned by a WY llc. Someone is telling me NOT to move the properties into a trust, but " let your WY llc be part of your living trust. You stay on as the llc manager...and both the beneficiary and trustee of the trust." Not sure what that means :)
@@Whatever0704 By placing your WY LLC into a living trust that you are both the trustee and beneficiary, you are effectively placing your NV LLC and the properties it holds into your living trust.
@@ClintCoons So regarding to that question so with a Land Trust , could I use my WY LLC as the beneficiary and as the trustee ? ..Also Regarding a Living Trust could I just set up a second Land Trust to do the same thing as far as Holding Personal Asset (home ,boat ,car, stocks etc.) and include the beneficiary to kids ,LLC or Trustee etc.?
@@stevelancaster3818 You could use the beneficiary as both the trustee and beneficiary but I would make yourself the initial beneficiary and then assign your interest to the LLC. AS to the second question, are you thinking of not setting up a living trust? If so I would advise against that approach.
@@ClintCoons Should Florida land trust's use Wyoming LLC's as trustees? Do you have a video on why Florida is different than other states for land trusts?
@@ClintCoons That was supposed to go in another video. I must have pasted into the wrong tab/video. You and Toby's stuff is always right on...thanks for what you do.
Do you want to learn more about structuring your living trust and land trust? Sign up for a free consultation here: aba.link/df36cf
You've taught me more than any professor. Your videos are going to litterally send me to the website and cause me to spend my hard earned cash for more wisdom. *take my money now*
I have like eight lots and I don't know what to do I found you in Google I wasn't even trying to find this and then I saw this and look at my God let me press it and then I pressed it oh my God this is amazing this is right up my alley but I don't know what to do so yeah I have to watch you watch the video
Queen Coins
Thanks for watching.
Other temperature business meeting but I describe to your channel so I can come back later on and watch it very interesting but yeah I don't know if I have eight lots do I do a land trust or do I do a living will for my kids legacy yeah we got to talk
Great video! Do land trusts provide asset protection, or just annominity?
Just anonymity with the exception of Florida where you can get both.
Great video as always... I'm in California in regards to the land trust can I still use the limited partnership instead of llc to avoid the franchise tax board $800. Also how would this work if I have a duplex and want to protect each unit from each other since I live in one and rent out the other and don’t want to lose both due to a tenant law suit.
I would transfer one unit into a disregarded LP or a WST. The personal side you could put into a land trust. On title the property would be held as a TIC between the 2 entities.
Thanks for this! I had no idea about land trusts and we already put our home (which is currently used as our primary residence) in a revocable living trust. We hope to rent it out next year - does that mean for optimal asset protection we should get rid of the living trust to put it in a land trust/llc structure?
Watch this video I created on turning your personal residence into a rental then reach out to set up a strategy session: th-cam.com/video/MWFzAE7wu3k/w-d-xo.html
Great video, I'm in CA. What does a land trust do to step up basis on the date of death? What insurance issues?
It receives the same step up. I have a video on insurance and land trust.
But which one is essentially better though a living trust or a land trust ? Because both is good depending on how u use it. But my question is which one should i use where one will weigh more than the other?
Both are different. A land trust is used to hold title to real estate to provide anonymity. A living trust is an estate plan that you use to hold all of your assets (including your beneficial interest in a land trust).
If you create Wyoming LLC as trustee and beneficiary, can this land trust be used to buy properties in CA? Do you have to file this land trust to the CA state?
How are property taxes affected when you transfer a beneficiary? Generally, when the property is transferred in California you may see an increase.
It will depend on the state. Yes in CA it will result in a reassessment if the property is not your personal residence (prop 19).
Hey, thanks for your video. So would it make sense to create a living trust, and a land trust, and funnel that info from the land trust to the living trust? Or do you feel that you dont need both? Really confused with how to structure our properties!
The living trust is for estate planning and the land trust/LLC is your asset protection. You need both. If you would like a FREE 30-minute consultation, you can request one here
- aba.link/clintss
To me, the assignment of beneficial interest without being recorded, will create a re-assesment of the property effective the date of transfer. So if the county eventually knows 5 years in the future, the new owner would have to cough a lot of property taxes for the last 5 years. And there is no step-up basis for the new owner. But if the grantor is not going to do any re-assignment, the land trust becomes a standard trust - holding title and no probate. That is my understanding anyways.
Correct - if you assign the beneficial interest to a 3rd party this will result in a reassessment and you are obligated to file any necessary change of ownership. So long as you remain the beneficial owner (directly or indirectly) a reassessment should not apply in most situations.
@@ClintCoons Thanks for the explanation.
Hi,
Is secondary Beneficiary and Successor Beneficiaries has a same meaning in the trust?
Yes
Besides and llc could you use a 508 c1a?
You plan to purchase real estate with a church?
So if you want to buy real estate or transfer real estate that is already in a C corp name into a land trust with your heirs or an LLC as the beneficiary and still have privacy how should the real estate actually be titled? Can you give an example?
Good question! Wish he had answered this! I have a similar issue right now
So really, the best thing is to have all real estate in a land trust and also an LLC for the business/income properties?
That is one way to set it up.
if I transfer a property to my beneficiaries from a land trust, and they decide to sell it, will there be capital gains taxes on any gain? thank you for your expertise!
Yes they will have capital gains because it was a gift and they take your basis in the asset.
question can creditor tap onto land trust and living trust ?
Yes. For that reason you must use LLCs to protect your assets.
@@ClintCoons thanks I already scheduled a call from you guys
Hi Clint - you say you’re the trustee of your trust. In previous videos you’ve said you should never be the trustee, because it removes the anonymity. Why not just use a trustee services company as trustee?
You can use services of a trustee company but what you refer to in the video is the living trust. With a land trust we will use an entity but yourself on a living trust.
Min 5. Your land trust should be in an LLC.
That made me a little confused. I thought that the property was owned by the land trust and the beneficiary of the trust was the LLC?
We are saying the same thing.
@@ClintCoons Thanks.
Properties are already in a NV llc, which is owned by a WY llc.
Someone is telling me NOT to move the properties into a trust, but
" let your WY llc be part of your living trust. You stay on as the llc manager...and both the beneficiary and trustee of the trust."
Not sure what that means :)
@@Whatever0704 By placing your WY LLC into a living trust that you are both the trustee and beneficiary, you are effectively placing your NV LLC and the properties it holds into your living trust.
@@ClintCoons So regarding to that question so with a Land Trust , could I use my WY LLC as the beneficiary and as the trustee ? ..Also Regarding a Living Trust could I just set up a second Land Trust to do the same thing as far as Holding Personal Asset (home ,boat ,car, stocks etc.) and include the beneficiary to kids ,LLC or Trustee etc.?
@@stevelancaster3818 You could use the beneficiary as both the trustee and beneficiary but I would make yourself the initial beneficiary and then assign your interest to the LLC. AS to the second question, are you thinking of not setting up a living trust? If so I would advise against that approach.
can a benificiary be a friend ?
Only if you want your friend to be an owner of the trust property (I assume you are talking about the land trust).
No reason to use land trusts at least in Florida. There's better ways.
What are you thinking?
@@ClintCoons Should Florida land trust's use Wyoming LLC's as trustees? Do you have a video on why Florida is different than other states for land trusts?
@@mr.c.3926 You can. FL land trusts are given protection under the state law that is why they have asset protection.
So at then end it is a how to provide disinformation and not be lying?
Can you point me to the place in the video where you question originates? I am confused about what prompted the question.
@@ClintCoons That was supposed to go in another video. I must have pasted into the wrong tab/video. You and Toby's stuff is always right on...thanks for what you do.
Need way to contact you sir
If you would like a FREE 30-minute consultation, you can request one here
- aba.link/30minSession