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Just the information I was looking for! Thanks for the awesome content. I will definitely hire your company.

@ClintCoons

5 жыл бұрын

If you would like a FREE 30-minute consultation, request one here: aba.link/7p

These are brilliant strategies Clint!

Great information...Digging more into what your classes offer cause I think as a land investor it may help a ton

@ClintCoons

3 жыл бұрын

Glad to hear it!

Question? How many beneficiaries can I place on the trust ? I’ve learned so much by just watching two of your videos. No fluff. Straight to the point.

@ClintCoons

Жыл бұрын

As many as you want. There isn't a limit to the number of trust beneficiaries.

Excellent video Clint

U r the Man!

Great stuff Im using this info to help set up my trustee for a number of projects and give them a income easily to do just about nothing except answer a phone and say do you have authorization from a court order or all of the beneficiaries of the trust that the caller must specify.

@ClintCoons

Жыл бұрын

A third party will typically contact the trustee because the third party has no ability to identify the trust beneficiaries.

Clint, excellent video. Don't some states (like FL, mine) prohibit LLC's from being trustees without added licensing and/or bonding requirements?

@ClintCoons

5 жыл бұрын

So long as the entity does not receive any compensation for its services and does not serve in a fiduciary capacity you can use an entity. Your trust agreement must be set up with the proper provisions.

You have a lot of good info in your videos. Thanks. What maintenance fees should we expect to pay? I read that the WY LLC has some. I'm assuming that the individual LLCs that are Trustees to the individual Land Trusts do, too. The individual Land Trusts do not have any. Is this correct?

@ClintCoons

3 жыл бұрын

State filing and registered agent fees. These vary based on the state.

@Real Estate Asset Protection So if the property is in Missouri and if I created a WY LLC to use as the Trustee, the deed would look something like the following: Black Family Trust, XYZ Services, LLC (Wyoming) as Trustee. Then I could be the manager of XYZ Services, LLC. Correct?

Genius.. thanks Clint

@ClintCoons

3 жыл бұрын

Very welcome

This is a vehicle type I was trying to explain to a friend the other day in absolute failure. However you simplified the vehicle stucture perfectly. I do not want to own any aspects on record. The LLC'S own everything. I only recieve my shares from the partnership LLC to my personal LLC. That way i only have income but no company asset's. I own nothing but get paid for everthing except the Land trust. The land trust does not create or disburse profits. Its simply a place holder like the number zero.

@adrianne-itiswell739

2 жыл бұрын

Are you inferring that we need ANOTHER LLC for personal use ie, that has a checking/savings account for the profit to go into? What do you name a "personal LLC"? Is this to avoid taxes? Would like to learn more about this. But all these LLC's and associated business checking accounts costs money. When just starting as a new "business owner" and funding all this business cost from personal money, it is quite expensive.

So... 1. create a WY single-member LLC as a disregarded entity (no tax election, no EIN). 2. Create a Land Trust whereby you are the Grantor, The WY LLC is the Trustee, and You are the beneficiary. 3. Create a Trustee Deed that says the WY LLC is no longer the Trustee and You are the Nominee Trustee and have it notarized BUT don't record it (to keep anonymity for the time being). 4. Record the property's Deed with the County showing the Land Trust now owns the property, instead of you personally. 5. Record the Trustee Deed only when you need to sell or refinance the property. 6. If refinancing, once new financing is obtained, then redo Step 2. Is that accurate? Also, what type of Deed do you record when transferring title to the Land Trust? Do you use a Warranty Deed?

@ClintCoons

4 ай бұрын

Accurate and I prefer to use a warranty deed however in some state like CA a grant deed is used.

Hi Clint - Great information as always. Question - Do you lose any anonymity by signing the paperwork with your name once you sell the property as the Wyoming LLC member owner?

@ClintCoons

2 жыл бұрын

Yes that is a possibility if someone looked at the deed from your trust to the 3rd party. That would require a lot of digging for someone to put 2 and 2 together.

Thanks for the great video! I have been researching Virginia Statutes for setting up Land Trusts but I believe they require the Trustee to reside in Virginia. Will the WY LLC work with Virginia law governing the trust? Also, if that one LLC is your Trustee for all lands trusts, couldn't a contingency lawyer just run that LLC name to find all other Titles in that Trustee name?

@donireland6218

4 жыл бұрын

I was wondering the same thing (about a lawyer just running a search for any properties owned by MyWYCompany, LLC).

@TonyPearl

4 жыл бұрын

This is why you don't want to have the same LLC for too many properties.

@donireland6218

4 жыл бұрын

@@TonyPearl It sounds like you're suggesting multiple LLCs acting as trustees. And then eventually other LLCs that will be the beneficiaries?

I am assuming that the reason why the WY LLC that is the trustee shall not engage in any other business activities is that if it ever gets sued, a creditor could point out that it doesn't have a licence to become the trustee of a trust.

@ClintCoons

2 жыл бұрын

Correct

Thank you for the great content!! I have a VA loan on my current home, could I use a land trust with LLC as a way to restore VA loan entitlement so I can purchase another house using VA benefits and repeat every year or two. I need a formula for purchasing residential with VA benefits and moving the loan into LLC.

@ClintCoons

4 жыл бұрын

Yes you can put a home with a VA loan into a land trust but you must be the trustor and beneficiary of the trust.

@TonyPearl

4 жыл бұрын

Yes, but I don't believe it will help you to be able to have the mortgagor get another VA loan. They can only use that benefit for one house at a time.

Good morning Clint, Awesome Lessons as usual! Also, would a Resignation Trustee's letter, dated a day after, back to another Trustee, would that work at title closing too? P.S. In addition, reopen a seasoned LLC to get a better track record oppose to opening a new LLC for ROTH IRA account best? Appreciate it. Have Amazing Days!🎉 always, G

@ClintCoons

Жыл бұрын

Yes the resignation works as you described. As far as the seasoned LLC that would not work for a ROTH as you can not move an existing LLC into your ROTH, it must be a new setup.

Hey, Clint --- great content as usual. Question --- does it make sense to use one Wyoming LLC as Trustee on multiple Trusts? Or is it suggested that new separate Wyoming LLCs should be opened for each new Trust that is created?

@ClintCoons

3 жыл бұрын

Yes, absolutely only set up one LLC to be the trustee of all of your trusts.

@fidel2xl

3 жыл бұрын

@@ClintCoons - That's great!! Thank you for the response, Clint. Cheers!!

@alejandrorojerogonzalez193

Жыл бұрын

great question and great answer

@alejandrorojerogonzalez193

Жыл бұрын

hi Clint can I set up multiple living trust and make te wyoming llc the trustee on my rental properties? or it's better on land trust and wyoming llc

This was a megatron nugget of information! Thanks for posting. Are you open to assisting investors that close on houses "Subject To" the existing loan. Most attorneys I have met are not aware of this way of buying property and are not willing to educated themselves on this process that is totally legal.

@JohnQPublic345

2 жыл бұрын

same with my cpa accountant

If using for personal property for asset protection will the LLC tax set up be disregarded since it’s not pulling in any income? It’s strictly their to provide anonymity. Also can a trustee be also be the beneficiary or would it provide further protection to have both separate entities in a rental situation?

@ClintCoons

4 жыл бұрын

Keep the trustee separate from the beneficiary and yes it is disregarded.

Awesome!

@ClintCoons

2 жыл бұрын

Thanks!

What if in a subject to deal you make the old homeowner 100% trustee and attach a “assignment of beneficial interest” document to the trust assigning all rights to you?

@ClintCoons

4 жыл бұрын

Yes many investors use that strategy.

Heard Land trusts are not popular vehicles in PA Can you have this set up for PA?

@patrickfalls6819

4 жыл бұрын

I am in Harrisburg, PA, and I would like to know this answer as well.

Could you make a video about foreign investors. I am from Holland. What if my Dutch or English business wants to own a property in the US or do business. Should I use an US trust or a Dutch trust to start with?

@ClintCoons

5 жыл бұрын

Great idea. I will add it to my list.

@luffebassen

3 жыл бұрын

@@ClintCoons Have you made a video on this yet? Im very interested. Thanks

Anyone have a good "land trust" form for California? Link please.

In real-life situations, how does one sue the owner of a piece of property? Does he/she sue the Trustee or the Trust through the Trustee? Who goes to court if need be? Who pays in case the defendant loses?

@ClintCoons

2 жыл бұрын

yes then you add in the beneficiaries

I hope this question has not already been asked, but, can I use the same Wyoming holding LLC that I create to hold my other entities in this way? Or should a separate Wyoming LLC be created just for holding title?

@ClintCoons

3 жыл бұрын

Kevin you would use a different WY LLC to be the trustee of a land trust.

If thet sue the trustee and you are the owner of the Wyoming Trustee, do you have to testify against yourself or can you claim fiduciary responsibility as the Trustee?

@ClintCoons

2 жыл бұрын

You wouldn’t do either. You would represent the LLC as its manager. Bring a fiduciary does confer any immunity in a lawsuit I.e., you do not have something akin to attorney client privilege.

I already have an LT. I'd like to create a LLC to serve as the Trustee. I just have one question. How do I note that it is a WY LLC? Do I note it as My Company, LLC of Wyoming? Do I put WY in parenthesis? How do I handle that part?

@ClintCoons

4 жыл бұрын

Some people will put "ZYX, LLC a Wyoming limited liability company" to designate its state of oganization.

I wonder if California residents have to pay California franchise taxes on WY LLC they are members of that works only as a trustee for trusts?

@ClintCoons

3 жыл бұрын

Yes you most likely will have to pay. Many do not because it is set up as disregarded entity so CA will not discover it.

If I have my own LLC as the nominee trustee, can I produce the Trustee Deed myself or that piece of document must be drafted by the attorney or title company? Thx Clint, appreciate the great info

@ClintCoons

2 жыл бұрын

Yes you can if you are comfortable preparing the document.

Would this trigger re-assessment of property value for property in CA?

@ClintCoons

2 жыл бұрын

No provided you are the beneficiary of the land trust.

Also if refinance or sell, the owner of WY LLC (me) will sign the closing document, which will defeat anonymity? Any way around it?

@ClintCoons

2 жыл бұрын

Yes - find a lender who is willing to refi in the name of the trust with a nominee trustee on title. I just handled one of these for a client in November.

Does the WY Trustee LLC also need to be manager-managed with a nominee manager?

@ClintCoons

3 жыл бұрын

No nominee just you.

So the second LLC you set up which matches property address 723 BroadwayLLC is only added to the LT as a beneficiary later? 723 BroadwayLLC does not actually own it LLC is just beneficiary correct?

@ClintCoons

3 жыл бұрын

Correct the LLC is the beneficiary of the land trust.

In keeping with the theme of turning one’s assets from low hanging fruit to higher hanging via anonymity, if one deeds property from their own name into a trust, normally (at least in South Carolina), the sales price is $5 or 10 dollars. This is an automatic tip off that the property was “kept in the family”. A property search would show that I once owned a property and sold it for five dollars. A savvy lawyer would know that I am still owning it. Any suggestions for this?

@ClintCoons

3 жыл бұрын

I find it unusual for people to list the actual consideration in a deed. Typical a nominal amount is listed, I do not think the amount is determinative of the type of transfer.

@salvatorelivreri

3 жыл бұрын

@@ClintCoons I may have misspoken. In my state, it is easier to search the GIS map and click on a property or search by owner name. The system tells you the owner, the previous owner, the sales date and the sales price. It will either have the property’s actual price (ie, $225,700) or a nominal price ($5 or $10). So if an attorney searches the name of the person they want to sue and sees a sale price of $5 or $10 from the intended victim to an anonymous LLC, the attorney will know it was not an arms length transaction and this would then imply a transfer to some entity related to the intended victim. By the way, thanks for doing the recent events in Greenville, SC.

@Me-vz1rl

2 жыл бұрын

@@salvatorelivreri just sell the property from your trust to a new one lol

@salvatorelivreri

2 жыл бұрын

@@Me-vz1rl you may want to reread the question as your answer did not address the original question

@lisakoontz2880

Жыл бұрын

I was wondering the same thing. (I'm also in SC.) Anytime I look up a property on county website or GIS and I see $5 or $10 as the sale price, I know what was really going on.

To save LLC fees, would you recommend using the same WY LLC as both the Trustee and the Holding Company LLC? What are the pros and cons?

@ClintCoons

2 жыл бұрын

No. Keep them separate.

@adrianne-itiswell739

2 жыл бұрын

I don't understand Clint's answer. If the WY LLC is the trustee for the 123 Trust (property you just bought) and the WY LLC was established for the purpose of holding property, then why not have it fill both functions? If you are going to set it up as this video states, then do we create another WY LLC to hold the property? There seems to be a piece of the puzzle missing here. I do see another video on naming trusts where the WY LLC creates a LLC in the state your are purchasing (FL) that has the same name as the 123 trust (123 LLC) then you buy 123 trust property. So when WY LLC creates the trustee LLC (123 LLC) is that LLC established created in the state the property is in or is that 123 LLC created in WY? If created in WY then we have to register it in FL so it can do business in FL? Too many details that need answered. I don't see videos that walk you through the details. Anyone in FL that can answer these questions, contact me.

Does changing the title to a trust generate a new tax assessment from the county ?

@ClintCoons

4 жыл бұрын

No

Do i have to create a new Wyoming llc once my company take over the property from it

@ClintCoons

3 жыл бұрын

Could you add some more context to your question. Not sure what you are referring to with "take over"

In this video, Clint shows that he bought the property initially in his personal name before transferring title to trust with LLC as beneficiary. In a title search, they will most likely out 2 and 2 together and figure out that Clint is the ultimate owner of the Trust/LLC. Seems to make sense to buy the property in the Trust name from the beginning if possible. I assume if there is a loan on the property, it won’t be possible to buy it in the trust name. Am I thinking correctly?

@ClintCoons

3 жыл бұрын

Yes you have it. When using financing you will be taking title in your personal name then moving the property to the land trust.

@alpinewhite

3 жыл бұрын

@@ClintCoons So, if property were purchased without a loan, we could put it in the Trust's name immediately as the owner?

@ClintCoons

3 жыл бұрын

@@alpinewhite Yes you could close in the name of the LLC or a land trust.

I thought for sure that in one of your videos, you said that using a WY LLC as a trustee could trigger the due on sale clause. Is that true? Is the trustee required to be the same as the person on the mortgage? Must the trustee and the grantor be the same to avoid triggering the due on sale clause?

@ClintCoons

10 ай бұрын

That is a risk depending on who holds the mortgage or if the property was purchased subject to.

Very nice video, i have one question for clarification. Lets say I have 10 properties in florida. P1, P2, P3.. etc etc. I want to put each of them into a FL Land Trust, called LT1, LT2, LT3 etc etc I want my main WY LLC to be the beneficiary, of which I am the Manager and Member. Now when it comes to choosing my trustee, I have two options. Either I pick someone like a Lawyer, or I use a WY LLC to be the trustee. But seems like you are saying that I should not use my Main WY LLC (which I am using as the beneficiary) as the trustee? Does that mean I have to make another Side WY LLC that I will use as the trustee for each land trust? So the beneficiary for LT1, LT2, LT3 will be MAIN WY LLC, and then the Trustee for LT1, LT2, LT3 will be the SIDE WY LLC? Can you clarify why I would use two separate WY LLCs for this? Thanks!

@ClintCoons

29 күн бұрын

I prefer a separate entity to avoid a potential exposure for your holding LLC from a lawsuit brought against the trustee.

Clint, thanks for this info. Question : 1. Do I need EIN number for just being a Trustee of the Trust ? 2. Can I set it up as single member owned or I need to be Manager owned Wyoming LLC ?

@ClintCoons

Жыл бұрын

You do not need an EIN if the LLC is only serving as a Trustee LLC

@kerremrichard1943

5 ай бұрын

Great video Clint. If I want ti open a bank account for the Trust can I get an EIN? I need a tutorial on how to fill out the SS4. What’s your advice?

Up to when can this be done before a settlement sale of commercial property and not to impact title insurance? Can we consult with you?

@ClintCoons

Жыл бұрын

Yes if you are a platinum client.

1. why WY LLC can't do any other business but should only play a role of a trustee? 2. does it make sense to deed property into a trust at the time of a ReFi or it's better be separate events? thank you!

@ClintCoons

4 жыл бұрын

Trustee LLC's purpose is anonymity and you do not want to jeopardize it by running other business through it. Second, property deeded into a trust will typically take place after a refi.

Question... Why not have the LLC be the owner of the property instead of the addition layer with the land trust? Wouldn't the LLC provide anonymity or am I missing something?

@ClintCoons

3 жыл бұрын

Yes you can do it without the land trust however in some situations you have property transfer tax issues to consider and some investors have a fear of lender acceleration. a land trust can address both of the above concerns.

With these LLC, no one is addressing the "registered agent" In the state of south carolina the registered agent is the individual listedon the public record. So if someone does a business search on google it would show the name of business and the registered agent. So who do you use list as registered agent without a fee?

@ClintCoons

3 жыл бұрын

Correct you must pay a fee to use a commercial registered agent. Its not an option if you want anonymity.

What is the proper response for the Trustee LLC manager if he/she gets a call/letter from the potential litigant as they try to contact the beneficiary of the Trust? Can he/she simply ignore such correspondence?

@ClintCoons

2 жыл бұрын

Sure - but if you ignore it and do not respond on behalf of the trust it could end up in litigation.

How will title read if u sign as manager of trustee llc?

@ClintCoons

Жыл бұрын

John Doe, Manager of XYZ LLC as its Trustee

Who should be on the property tax bill trust name or trustee?

@ClintCoons

Жыл бұрын

Trust name care of trustee.

Why Wyoming? I am trying to put a Florida property into a trust.. Does it matter which state I put a LLC in?

@ClintCoons

Жыл бұрын

It does not.

Awesome my friend! ?? If I form an Wy LLC to buy properties, then set up 1234 main st trust, ...can the Wy LLC that bought the property be listed as the beneficiary? I look forward to your reply Thanks

@ClintCoons

4 жыл бұрын

Yes it will

@customcarp2

4 жыл бұрын

Wait....First looking forward to consult, watching this video, the llc beneficiary for a trust, has no other jobs? So the company llc shouldn't be the same llc? The comp llc will have website, cards ect. Am I crazy?

How can i hide my money? I have a lawsuit settlement incoming on behalf of my children, who are minors. Can i open a bank account with the Trust or LLC? If so, would I be able to deposit checks made out to me, the beneficiary? Or how would i do that? I appreciate your help! Great video!

@ClintCoons

Жыл бұрын

You could open up a trust for the benefit of your children and place the assets into the trust account. You then might consider setting up a WY LLC that is owned by the trust to move the funds into for asset protection

Great video. I have my properties in a trust with a MO LLC as trustee. Should I change this or place my MO LLC as a part of a WY LLC that is a holding company?

@ClintCoons

5 жыл бұрын

Holding your properties as you describe is great for anonymity but it does not offer asset protection. I suggest holding your trust in separate LLCs.

@ChrisMonroeSTL

5 жыл бұрын

@@ClintCoons do you mean to make my LLCs beneficiaries of each trust after I have you guys set up my Wyoming LLC holding company?

1 more question, can i just make a LLC that owns the property? Would that keep my anonymity? Or do i NEED a trust? (Trusts seem expensive if i can do without..)

@ClintCoons

Жыл бұрын

Yes provided you use a WY LLC as the member manager to keep your identity private. (Any LLC that does not disclose your relationship to the LLC works with this strategy.)

how can you record the deed to just say the name of the trust.. does the trustee have to be on title?

@ClintCoons

4 жыл бұрын

Possibly but you risk clouding title. I have done it in the past without the trustee and it created some issues later when the property was listed for sale. The title company had an issue with how title was taken.

i have 3 investment property under my personal name in pa. can i do it without pay transfer tax?

@ClintCoons

3 жыл бұрын

Yes but you must work with an attorney to make sure your LT is compliant with PA's goofy transfer laws.

If my LT holds title to property in Missouri, can a WY LLC be the Trustee? I'm having trouble finding an answer one way or the other.

@ClintCoons

4 жыл бұрын

Yes. We set up many structures this way.

@donireland6218

4 жыл бұрын

@@ClintCoons I thought different states might require that the Trustee be a resident of the state or a company registered in the state.

Hi Clint. Doesn’t the trustee of the land trust must reside in the state of your rental property or your LLC trustee must be registered in the state of the rental property? I ask that because in the case there is a lawsuit the judge might not go in your favor if the LLC/trustee is not local in the state.

@ClintCoons

3 жыл бұрын

I am not aware of this requirement however, assuming this was an issue and the trust was ignored, then the LLC beneficiary would be the owner of the property. Ultimately it is the LLC/beneficiary from which you derive your protection and not the land trust.

@FelipeSalum

3 жыл бұрын

@@ClintCoons Thanks for your quick reply. My question came after watching a video from another youtube explaining that his client had a Nevada LLC, and the rental property from another state was owned by this Nevada LLC, his tenant stopped paying and after going to court the judge said since his Nevada LLC is not registered for business in that state the denied the case and the tenant was able to stay and not pay anything until he registered the LLC there. Since the trustee and the beneficiary are out of the state, I wonder if that is a risk for this specific example as well.

@ClintCoons

3 жыл бұрын

@@FelipeSalum I have never heard or read of it being an issue. An LLC is a business entity and requires registration while a trust is a fiduciary relationship and does not register unless it is a business trust. Thus, I can't envision a court reaching the same conclusion.

@FelipeSalum

3 жыл бұрын

@@ClintCoons Awesome to hear that :)

Can that Wyoming llc be the trustee to several different properties

@ClintCoons

5 жыл бұрын

Absolutely.

@donireland6218

3 жыл бұрын

@@ClintCoons if have multiple LTs using the same Trustee, won't a smart attorney notice that "hey these other properties have the same Trustee -- maybe they have the same beneficial owners"? How would I avoid that?

@terrycrawford6740

2 жыл бұрын

Good question from @Don Ireland . Maybe the answer to this is that since the contents of the various LTs are private, there is no way for the smart attorney to find the names of the beneficiaries without a court order. Hopefully, the smart attorney won't bother taking the case as there might not be anything for him if the beneficiaries turn out to be unworthy

how does one sign the documents as an LLC trustee? Especially if your the beneficiary.

@ClintCoons

4 жыл бұрын

As the manager of the LLC

@dirgesinthedark5637

3 жыл бұрын

But these docs do not do beyond the title co and the seller?

What does Toby do when he gets service of process for a piece of property he has resigned for as Trustee?

@ClintCoons

2 жыл бұрын

Forward it to the client.

@terrycrawford6740

2 жыл бұрын

Does Toby also officially respond to the Complaint or is it all handled by the client?

Does this work for Pennsylvania.

@ClintCoons

3 жыл бұрын

This is something you would need to reach out to our office to discuss.

What is the worst thing a plaintiff can do by suing the Trustee LLC as the title-holder of said property?

@ClintCoons

2 жыл бұрын

Nothing because it owns absolutely Zero assets.

@terrycrawford6740

2 жыл бұрын

What about for an internal attack? Could a lien be placed on the property?

If the Trustee were brought into court, the Trustee can simply request a Motion to Dismiss since it is not the owner, correct? Can the judge, at that time, ask for the identity of the Beneficiary at that time?

@ClintCoons

2 жыл бұрын

Yes and the judge could ask but how would the trustee know if he resigned several years before.

Can a Wyoming LLC be the Trustee for a California real property trust?

@ClintCoons

2 жыл бұрын

Many investors use it as a trustee.

How to get a trustees deed

@ClintCoons

5 жыл бұрын

You can not use this strategy to be the trustee on a deed of trust only a land trust.

Just saying hypothetically what kind of problems can the LLC get into that would cause you to lose the property in it???? Or it's really just inactive - sole purpose to hold the property????

@ClintCoons

3 жыл бұрын

Are you referring to the land trust that holds the property or the LLC that owns the land trust?

@micomarinas2753

3 жыл бұрын

clint what else can I put inside an llc...savings account, stocks, gold, cryptocurrency?

did they recently change the laws about WY llcs? because i looked up a WY LLC the other day on the state website and it said the owners name..

@ClintCoons

4 жыл бұрын

What was the name of the LLC

@nojokeauto

4 жыл бұрын

Real Estate Asset Protection LLC. the history PDF DOCs have he’s name all over them..

@ClintCoons

4 жыл бұрын

@@nojokeauto That is because the person who set up the entity is not using a service to file the annual report on his behalf. If you set up a WY or NV entity and do not use a service to keep your information private then yes your name will get out there. A good point to raise.

@nojokeauto

4 жыл бұрын

Real Estate Asset Protection you should make video clint!! on this subject.... oh and on behave of that LLC i mentioned, i will edit it for their privacy. thank you!

@ARYUSops

3 жыл бұрын

Real Estate Asset Protection does the registered agent accomplish this or another type of service needed?

How do you sign on the document as the Wyoming LLC if you want to stay Anonymous? There's no way to do that right? So you still would have to show your name on the recorded documents.

@ClintCoons

3 жыл бұрын

What public documents would you be signing?

@jezzey07

3 жыл бұрын

@@ClintCoons In his example where he said you make the Wyoming LLC the Trustee: You own the Wyoming LLC. So, on a purchase and sell agreement, you will need to print and sign your name still. So where's the anonymity ??

@terrycrawford6740

3 жыл бұрын

The trustee may not be the underlying owner, though, right? All that signature proves is that you are the manager of the trustee LLC but not necessarily be the beneficiary of the trust. Do I understand this correctly?

@jezzey07

3 жыл бұрын

Attorneys who are hired to legally pursue you will know that the manager of the trustee is most likely the beneficiary. Dont get me wrong, you're still protected. They still can't touch you personally, but does going thos route really ensure your anonymity when you have to sign oublic documents to purchase property? Im just thinking..

what entity collects the rent?

@ClintCoons

22 күн бұрын

Typically the land trust or a management LLC

Why is this better than an offshore trust or llc?

@ClintCoons

4 жыл бұрын

We do not set up offshore entities nor consult on their use.

Im about to close on a 4 plex in 30 days - I'm pretty sure I'm going to go this route with the Wyoming LLC (how long does that take to setup???)

@ClintCoons

Жыл бұрын

A few days at most

@nickfazzio5277

Жыл бұрын

@@ClintCoons thanks Clint - so Wyoming LLC as beneficiary of Land trust will provide anonymity on a 4 plex in Maryland? Purchase with Cash - Refi in 6 months once rehabbed? Does that make sense or NO- don’t do it that way. I don’t have any LLCs right now just 3 rentals In my personal name in MD

@ClintCoons

Жыл бұрын

@@nickfazzio5277 I would wrap up the refi before moving the property into an entity unless you are working with a portfolio lender. Freddie/Fannie underwritten loans will not allow a CO Refi on unseasoned property (6 months in your name).

@nickfazzio5277

Жыл бұрын

@@ClintCoons very helpful insight. Your the man - love your channel

Can an asset protection trust substitute for a land trust?

@ClintCoons

3 жыл бұрын

Yes but you are giving up some control and it is irrevocable. Also the question is wether or not the state will recognize it if you live in a state that does not have an APT statute.

@donwbacik1009

3 жыл бұрын

@@ClintCoonsThanks, it's a Nevada APT so issues of irrevocability aren't an issue. I'm in CT now. The property could be in any state.

nobody explains when doing this method when i am renting out property which entity will collect the rent or do i have to creat a separate entity and how do i tie it in to this

@Kicksonfire23

23 күн бұрын

@ClintCoons

@ClintCoons

22 күн бұрын

If you are using a PM, then it's the PM; if you are self-managing and you have not set up a separate management LLC, then it would be the trust.

@Kicksonfire23

21 күн бұрын

@@ClintCoons i bought 2 investment properties took mortgages out in my name who should collect rent and pay back mortgages me with an extra personal bank account?, holding company i create ? so that its not taxable income should i set anything up and use that same account to pay back mortgages (without moving properties into their self LLC plan to refinance later)

@Kicksonfire23

21 күн бұрын

@@ClintCoons P.S. I've spent over 40 hrs watching your videos ,thank you for teaching me so many things !!! I cant wait for the webinar !

Can a Trustee (or manager of Trustee LLC) be forced to reveal the contents of the Trust (i.e. who the Beneficiary is)? The question for both in-court or out-of-court.

@ClintCoons

2 жыл бұрын

With a subpoena

@alejandrorojerogonzalez193

Жыл бұрын

hi Clint question if already have properties under my name and I do a land trust and a WY llc will this be to late to get anonymity? since the county already have my info ?

@alejandrorojerogonzalez193

Жыл бұрын

hi Clint question if already have properties under my name and I do a land trust and a WY llc will this be to late to get anonymity? since the county already have my info ?

Why you can't you buy the property in the name of WY LLC without going through trust? Wouldn't the result be the same - no one will know who's the owner of WY LLC? What do you get by adding a trust?

@ClintCoons

5 жыл бұрын

You can but if you are using traditional financing then you will not be able to close in the LLC. Further, if the property is not located in WY then you will need to register your WY LLC in the state where the property is located so this defeats any benefits from a WY LLC.

5 жыл бұрын

@@ClintCoons Thanks, valid point regarding conventional financing! If buying in other state than WY - wouldn't it be still anonymous if WY LLC was the member of the LLC created in that other state and that other LLC would be member managed?

@terrycrawford6740

3 жыл бұрын

@@ClintCoons If my WY LLC is the beneficiary of the Land Trust, you said that the WY LLC has to register in the state where the property is. You, then, said that it defeats the purpose of having a WY LLC because there would no longer be anonymity. If this is the case, why are we using a WY LLC as the beneficiary of a rental's Land Trust to begin with?

@ClintCoons

3 жыл бұрын

@ Absolutely

@ClintCoons

3 жыл бұрын

@@terrycrawford6740 I believe I said if the WY LLC is the owner of the property. Using a land trust you avoid the registration.

Instead of trust, can the property be titled directly with anonymous wyoming llc as owner?

@ClintCoons

2 жыл бұрын

Yes but you will lose the anonymity when you foreign file (which you must do) your LLC in the state where the rental is located.

@MusafirsSoul

2 жыл бұрын

@@ClintCoons I intend to buy vacant land at tax auction in Nevada (my home state). I will hold/flip it (no rental business at all). A professional Nevadan company (also RA & address provider), just recorded my LLC with SOS as the organiser and resigned assigning the 100% role to me through resolution. Since so far its anonymous, can I use it on title on the winning auctioned property (Iff I win!!). The county will finalize the documents within 24 hours and would need Title info immediately, so is forming a Land Trust in advance possible without knowing the result of auction? . What would you suggest...I am preparing myself in advance. Thanks Clint so much.. Your channel is "THE BEST"

@ClintCoons

2 жыл бұрын

@@MusafirsSoul Yes, you can use your LLC to take title. The benefit of a land trust is the ability to form them if you win so you do not need to create several LLCs in advance of an auction.

@MusafirsSoul

2 жыл бұрын

@@ClintCoons That's what my thought is. With the trust anything can be changed easily without recording. Thanks Clint!

Since Big Mtn LLC will be the trustee of several properties, wouldn't a potential litigant know that you own several properties since they all have the same trustee?

@ClintCoons

3 жыл бұрын

One could make that assumption or assume you sold the properties. Remember you are not traceable to Big Mountain if it is set up properly.

@terrycrawford6740

3 жыл бұрын

Since I am already in the chain of title, how easy is it for someone to find me as a previous owner of a certain pieces of real estate?

@ClintCoons

3 жыл бұрын

@@terrycrawford6740 Simple title search

Who is the beneficiary? Same LLC ? Or my name?

@ClintCoons

4 жыл бұрын

Initially you will be then you will assign to the LLC.

@ARYUSops

3 жыл бұрын

Real Estate Asset Protection do you mean another LLC will be assigned beneficial interest, not the trustee LLC, correct?

I used a friend as Trustee and now he's being sued because he's on title as Trustee. Not fair to him. All he did was sign docs.

@ClintCoons

11 ай бұрын

I have seen this happen before and the reverse where the friend was sued and the attorney went after the property in the name of the trust. Best not to use friends with this strategy. File a trustee deed and remove him from title.

To further add obfuscation, what do you think of these steps? 1. Use Trustee1 LLC as Trustee 2. Beneficiary fires Trustee1 LLC 3. Beneficiary assigns Trustee2 LLC as new Trustee 4. Any lawsuits will bounce off Trustee1 LLC. Trustee1 LLC will still receive notices but can ignore them. This would eliminate any responsibility to Trustee1 LLC. 5. Before selling or refinancing property, reassign Trustee1 LLC so that official records match who the real Trustee is.

@ClintCoons

2 жыл бұрын

There are other ways to get service of process and the risk in ignoring the summons if a default. The nominee trustee is good for a smokescreen but I would not use it to do battle.

@terrycrawford6740

2 жыл бұрын

How is Trustee1 supposed to know who the current trustee is if he/she had been fired by the Beneficiary years ago?

Can I sell my house to my own trust?

@ClintCoons

3 ай бұрын

No that would not produce any benefits.

@gabrieldineros587

3 ай бұрын

@@ClintCoons even my LLC is the trustee inside my trust.

Ultimately, that leaves me as the Trustee. Wouldn't that raise an issue of MERGER DOCTRINE?

@ClintCoons

4 жыл бұрын

Not unless you are in both positions as the time the property is transferred into the trust. Second many states have abolished the merger doctrine.

@donireland6218

4 жыл бұрын

@@ClintCoons is Missouri by any chance one of those states? I would be Grantor. If I have a loan, the lender is going to require that the Trust beneficiary is ME. There is ever a lawsuit happens, a smart laser is going to show that at one point, I was in all three positions at the same time. If I try to say that "I wasn't REALLY the beneficiary", then I'd be admitting to mortgage fraud. If he can show that won't that invalidate he Trust as of that date? If the Trust is declared to have been invalid in the past, can it now be rehabilitated to survive this lawsuit?

@ClintCoons

4 жыл бұрын

Don the merger doctrine is an issue when the property is transferred that is why you do not want to be both the beneficiary and the trustee when you deed the property into you land trust. When a situation like you described occurs the merger doctrine will not apply because the land trust provides for contingent beneficiaries so you are never the sole beneficiary.

@donireland6218

4 жыл бұрын

@@ClintCoons ok that makes a little more sense then. By having "contingent beneficiaries" (who would be the new beneficiaries upon my death), there would be no merger issue even if I am the Grantor, Trustee & the only Primary Beneficiary.

I am in process of having you guys at Anderson create me numerous entities. New platinum member. One question I have. You guys are setting up a (safe asset) Wyoming LLC for brokerages crypto etc. Would it be Ill advised to use this LLC as the trustee for all my other land trusts which will be held by there own WY real estate holdings llc. What is the downside to using safe asset LLC as trustee. Or is creating a 3rd completely separate Wyoming LLC really needed to be trustee for land trusts going forward.?? Thanks

@ClintCoons

Жыл бұрын

Thanks for reaching out. I would advise against using the same LLC for holding safe assets as the trustee LLC of land trusts. This is because if there is ever a lawsuit against one of the land trusts, the assets of the safe asset LLC could be at risk. The best practice is to create separate LLCs for each asset type. This will help to protect the assets of each asset type from being exposed to lawsuits or other liabilities. In your situation having a stand alone trustee LLC would be a better plan. Keep in mind you can use a safe asset LLC as the initial trustee then resign and appoint yourself as the successor trustee. This will provide anonymity for the land trust and remove the trustee LLC from any liability because it is no longer serving.