So I'm still trying to wrap my mind around the concept of putting property into a trust and having an LLC be the beneficiary. As I understand it when the property is put into the land trust, a trustee has to be named and the trustee is listed as the owner and only they know the identity of the beneficiary? So if someone wanted to pursue legal proceedings they would be dealing with whoever is named as the trustee, under the illusion that they own the property?
Hi @Devika Sharan You've almost got it! Suppose you place a property into a land trust (let's say, "ABC Trust") with a trustee named John Smith. On the official county records, the legal owner of the property will now be "ABC Trust, J. Smith as Trustee." But John Smith is not the owner of the property, he's just the trustee. The trust owns the property, but because there is no public registry of trusts, all someone would know is the name of the trust and the name of the trustee. What no one (but you) knows is who the actual beneficiary of the trust is.
And, that's exactly the way you want it!
Another way to go to veil identity is to buy in a trust have the trustee as an LLC and the beneficiary as another LLC. 1 Main St Trust, ABC LLC Trustee and XYZ LLC as beneficiary.