Sorry, for such questions. But, I / we are fairly new to the world of holding our assets in a trust(s). It is much better to know more than less about trusts.
You draft a trust indentured agreement , be very specific for your needs, then get it notarized. You should get a ein from the irs too so u can open a bank account
I / we have owned the properties for over 30 years. How can we create anonymity in our trust? Do you practice in California? We live in Ventura county of California.
@@CMSLawFirmLLC Why do people create corporations? Why are there facetious names on all businesses? There are many properties in Ventura county held in shell corporations where the owners do not want anyone to know who the true owners are. I want anonymity to protect I / us from any unwanted law suits or harassment. Our current trust(s) have our personal names on it. We get constant phone calls about our property. Even with a facetious trust name some one can find us. I just want to make it harder to find our true identity not impossible.
Hi , I am new to real estate investment . I have a Virginis LLC for 10 years , i am going to close on a short term rental in Delaware and Delware LLC will own this property . Do you think i should create a wyoming LLC to hold (own ) other real estate LLC for asset protection and anomenty. Then I can create a trust in my state to own the holding wyoming LLc? Will you be able to do the trust in my state (east coast) ?
I think you should just work on getting more real estate in your portfolio. All of this stuff isn't that important - it takes a lot of work for not a lot of benefit. If you want to keep going, though, I'd talk to a Wyoming attorney about setting up the LLC. I'd talk to an attorney in your state about setting up the trust. Cheers.
Hi! Just came across your video and had a question. Reaching out from FL. Would naming the law firm as the initial trustee cause me to loose homestead exemption and trigger the due on sale clause since the owner's name (the law firm) doesn't match the original owner's name (my name) on the deed? Thank you!
Hi. sorry I know this is an old video but I have a question ... please! If one follows your advice, say in Oklahoma where its required to add Trustee name, and file memo of trust with county clerk.. SO 123 any street , OK transferred from Grantor to " fantasy Trust , ABC Law firm as trustee. and ABC resigns immediately ... would they need to then give permission to sell, transfer or transact with property since their name is listed at county clerk? OR would successor trustee just show notarized resignation when trying to transact with property? I know resignation language is state law and trust dependent , but is the property help by trust or by trust AND ABC law firm? ALSO, would one need to UPDATE county clerk records to show new trustee when ABC resigns? THANKS SO MUCH!!!!
Yes. Current trustee would just provide documentation showing they have the current authority to act on behalf of the trust. No need to update the county records.
Sorry, for such questions.
But, I / we are fairly new to the world of holding our assets in a trust(s).
It is much better to know more than less about trusts.
No need to apologize. I would agree it is much better to know than less about trusts.
Thank you so much
You're welcome!
Excellent job! I want to know more.
Thanks! I'll try to give you more!
How do I create a trust for a lottery win?
You draft a trust indentured agreement , be very specific for your needs, then get it notarized. You should get a ein from the irs too so u can open a bank account
Call a lawyer. Lots of stuff to do in this case.
I / we have owned the properties for over 30 years. How can we create anonymity in our trust?
Do you practice in California? We live in Ventura county of California.
It's going to be a little harder now. Why do you want anonymity?
@@CMSLawFirmLLC Why do people create corporations? Why are there facetious names on all businesses? There are many properties in Ventura county held in shell corporations where the owners do not want anyone to know who the true owners are.
I want anonymity to protect I / us from any unwanted law suits or harassment.
Our current trust(s) have our personal names on it. We get constant phone calls about our property.
Even with a facetious trust name some one can find us. I just want to make it harder to find our true identity not impossible.
Hi , I am new to real estate investment . I have a Virginis LLC for 10 years , i am going to close on a short term rental in Delaware and Delware LLC will own this property .
Do you think i should create a wyoming LLC to hold (own ) other real estate LLC for asset protection and anomenty.
Then I can create a trust in my state to own the holding wyoming LLc?
Will you be able to do the trust in my state (east coast) ?
I think you should just work on getting more real estate in your portfolio. All of this stuff isn't that important - it takes a lot of work for not a lot of benefit.
If you want to keep going, though, I'd talk to a Wyoming attorney about setting up the LLC.
I'd talk to an attorney in your state about setting up the trust. Cheers.
Please more!
What else would you like to know?
Hi! Just came across your video and had a question. Reaching out from FL. Would naming the law firm as the initial trustee cause me to loose homestead exemption and trigger the due on sale clause since the owner's name (the law firm) doesn't match the original owner's name (my name) on the deed? Thank you!
That's a FL question for a FL attorney. I'm not sure. Great question though!
I want to know more
What would you like to know?
Does that leave legal title in the hands of the firm to be transferred to the client?
Are you limited to your own state when setting up trust,s ?
I want to know more. Live in oregon. still the same as washington. I think were you do business? Thank you
I'm not licensed in OR, but I think you could do the same thing there...
How about a double trust like a trust thats the trustee of a trust is that more secure say for lottery winners in the state of Pennsylvania
Hi. sorry I know this is an old video but I have a question ... please! If one follows your advice, say in Oklahoma where its required to add Trustee name, and file memo of trust with county clerk.. SO 123 any street , OK transferred from Grantor to " fantasy Trust , ABC Law firm as trustee. and ABC resigns immediately ... would they need to then give permission to sell, transfer or transact with property since their name is listed at county clerk? OR would successor trustee just show notarized resignation when trying to transact with property? I know resignation language is state law and trust dependent , but is the property help by trust or by trust AND ABC law firm? ALSO, would one need to UPDATE county clerk records to show new trustee when ABC resigns? THANKS SO MUCH!!!!
Yes. Current trustee would just provide documentation showing they have the current authority to act on behalf of the trust. No need to update the county records.
I would also like to know more .
What else would you like to know?
Or make another Trust as the Trustee or an DBA not your name will do also. thanks
You're not wrong... but people can follow the trail back as far as they need to most of the time.
Can’t you use the bank you’re buying the home from to be the trustee to hide your name completely?