BROADCASTS.com

In this episode we discuss land trusts with Mac McWhirter, executive director of WorldWide Trustee Services LLC. And we explore the many advantages land trusts have to offer. Some of the main advantages are privacy of ownership (anonymity) and the possible avoidance of a probate. A land trust can also help protect against judgments and liens, facilitate estate planning, prevent land partition, and ease real estate title transfer. And Florida is one of the best states to hold title in a land trust! \xa0 Mac also discusses some potential disadvantages of land trusts such as the false belief that the trust protects property owners from all liability. The other key thing to realize is that, even though there is anonymity for the property owner, a court can order full disclosure of property owners for certain civil and criminal complaints. \xa0 Key Discussion Points [07:52]\xa0How did you get into land trusts? [08:51]\xa0What problems does a land trust solve? [10:26]\xa0Does a land trust work like an LLC? [11:49]\xa0Can somebody still file a lien against a property owned by a land trust? [16:23]\xa0What are some of the downsides to land trusts? [17:28]\xa0What are the tax consequences of a land trust? [19:10]\xa0If something happens to the land trust owner, how will the property continue to get transacted properly? [20:22]\xa0What are the costs for an investor compared to an LLC? [21:47]\xa0What are the typical land trust fees? [22:36]\xa0What are the typical land trust fees? [23:45]\xa0Is Florida a good state to hold title in a land trust? [24:43]\xa0Does a land trust have to be a single entity beneficiary or can it be a partnership? [29:01]\xa0Closing remarks by Eric and Steven \xa0