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Updated over 3 years ago on . Most recent reply

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Edgar Williams Jr
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Land Trust Question

Posted

Is it Smart to use a land trust, for each individual property. and then have the LLC as the trustee/personal representative of all the trusts. then put myself as the beneficiary of the trust

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John Mocker#1 Insurance Contributor
  • Insurance Agent
  • Norwalk, CT
1,210
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2,175
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John Mocker#1 Insurance Contributor
  • Insurance Agent
  • Norwalk, CT
Replied

Edgar,

If you do set up the ownership as you mentioned make sure that all parties that could be sued are properly insured.  Have a conversation with your Attorney and Insurance agent and determine who should be listed on the policy to enable defense costs to be covered in a lawsuit.  

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