Do You Know the How, What and Why of Land Trusts?
The purpose of a land trust is to allow one to have the legal title to his property held by another person, or trustee while retaining all of the rights and privileges of property ownership (the beneficial interest). The trustee acts only upon the beneficiaries’ direction. The property owner still retains all rights, such as the right to possession, to collect rent, mortgage the property, homestead exemption, and any other benefit he now has.
Join Bill and Rick to learn how, when and why a land trust can be a valuable estate planning tool.