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Frank
Investor
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Land Trusts
Thursday, October 29 2009 10:13 AM
I currently have a Las Vegas, NV trustee with a signing member (not myself) as the trustee for Land trusts in PA. Is this ok or is there still more of a benefit to having the LLC as beneficiary? If so how do I go about changing that around especially if I do not have an individual out of state that I would name as trustee?
Frank
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Jim Hughes
Investor
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Re:Land Trusts
Friday, November 20 2009 06:45 PM
Frank,
I think you and i have already talked about this. But, if not, please call me at:
1-866-696-7347
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Frank
Investor
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Re:Re:Land Trusts
Tuesday, December 01 2009 11:52 AM
Yes you have, Thank You!, I'm just a little dense sometimes...
If I do have that LLC moved to the beneficiary. Does the fact that I have someone else as the manager of that LLC give them a controlling power over the LT?
Would making myself the director allow me to have the ultimate control on the LT?
Frank
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Randy Hughes
Master Advisor-39 years of experience
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Re:Re:Re:Land Trusts
Tuesday, December 01 2009 12:27 PM
Frank,
If I do have that LLC moved to the beneficiary. Does the fact that I have someone else as the manager of that LLC give them a controlling power over the LT?
YES, ASSUMING THAT THE BENEFICIARY HAS THE POWER OF DIRECTION AND HAS NOT ASSIGNED IT AWAY.
Would making myself the director allow me to have the ultimate control on the LT?
YES, BY GEORGE...I THINK YOU HAVE GOT IT!@
RANDY
Randy Hughes
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Frank
Investor
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Re:Re:Re:Re:Land Trusts
Tuesday, December 01 2009 03:28 PM
To push this along further...
Would it be best to have the NV LLC be co beneficiary with the family trust that I currently have as beneficiary of the LT. Or make the family trust a successor beneficiary after the NV LLC?
thanks again!
Frank
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Randy Hughes
Master Advisor-39 years of experience
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Re:Re:Re:Re:Re:Land Trusts
Tuesday, December 01 2009 04:25 PM
I WOULD PREFER TO MAKE THE FAMILY TRUST THE SUCCESSOR TO THE LLC (OR YOU COULD MAKE THE FAMILY TRUST A MEMBER OF THE LLC...JUST DEPENDS ON WHAT YOU ARE TRYING TO ACCOMPLISH)
To push this along further...
Would it be best to have the NV LLC be co beneficiary with the family trust that I currently have as beneficiary of the LT. Or make the family trust a successor beneficiary after the NV LLC?
Randy Hughes
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Frank
Investor
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New Mexico LLC as trustee
Wednesday, December 02 2009 06:24 PM
At the end of the advanced course you briefly mentioned the hoow to be invisible website, which I checked out. It states that NM LLC's do not have to have name disclosures on the operating agreement. After I set up a VA Trustee for the first year, wouldnt that make a NM LLC a great successor trustee to a VA LT? (I do not have anyone that I would consider as a trustee out of state.)
Frank
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