(Land Trust > LLC) > (LLC > Me). Which entity is now paying the Mortgage. Once the first (LT > LLC) is setup is the Beneficiary LLC able to pay the Mortgage or will I pay out of personal accounts like originally established with the lender?
Either the land trust or LLC. You could pay from your personal account and journal entry it to the LLC but I think it is preferable to pay from the LLC or land trust.
Good info. We’re in the process of setting up a trust. Trying to figure the best kind to give the best protection while we’re alive and after we’re gone.
Clint, if you have a living trust and all of your business assets are in the trust, how to you avoid the co-mingling of accounts? I understand having a separate bank account for each property, but if you private bank account is in the same trust, will that cause a problem of piercing the veil?
The business have their own separate bank accounts so unless you intentionally fail to keep these accounts separate, your entity shield will remain in tact.
when people put all real estate into RLT, when the owner pass away, all rental properties still generate income, which will face high income tax at the highest level, coz the trust create the income. is that right?
Hey Clint, I don't usually comment but our social circles don't align so this is my best way of contacting you 🤣. I'm looking for your operating agreement that allows me to "hold all the cards" for lack of better terminology. I was wondering if it's in one of your books. Also listening to your advice regarding short-term rentals and I was able to deduce that because my income will be considered active that a C Corp will my best option. However I'm under the impression that a C Corp actually has corporate bylaws or some form of corporate governance laws. I still want to hold all the cards in this situation too. Do you have anything on that as well or that's not really in your scope ?
@@user-yd8wp8rz2b right , but why is this relevant to my comment ? if you plant o leave the money for longer than a year (i.e not plan to die tomorrow) , then you lose a lot of money that you could have invest somewhere , the longer you have the more money you will lose in this strategy
(Land Trust > LLC) > (LLC > Me). Which entity is now paying the Mortgage. Once the first (LT > LLC) is setup is the Beneficiary LLC able to pay the Mortgage or will I pay out of personal accounts like originally established with the lender?
Either the land trust or LLC. You could pay from your personal account and journal entry it to the LLC but I think it is preferable to pay from the LLC or land trust.
Good info. We’re in the process of setting up a trust. Trying to figure the best kind to give the best protection while we’re alive and after we’re gone.
allen foster
Thanks for watching.
Thanks for sharing. Like all the knowledge you share here in UA-cam. It is helping me think in how I should structure my future real-estate business.
Great to hear!
Thank you clarification
Clint, if you have a living trust and all of your business assets are in the trust, how to you avoid the co-mingling of accounts? I understand having a separate bank account for each property, but if you private bank account is in the same trust, will that cause a problem of piercing the veil?
The business have their own separate bank accounts so unless you intentionally fail to keep these accounts separate, your entity shield will remain in tact.
Have you ever delt with any 508c1a problems or potential problems when including them into multiple LLC's or Trust portfolio's
I have not
when people put all real estate into RLT, when the owner pass away, all rental properties still generate income, which will face high income tax at the highest level, coz the trust create the income. is that right?
No, you can pass the income tax through to the beneficiary to be taxed at their bracket.
Hey Clint, I don't usually comment but our social circles don't align so this is my best way of contacting you 🤣.
I'm looking for your operating agreement that allows me to "hold all the cards" for lack of better terminology. I was wondering if it's in one of your books.
Also listening to your advice regarding short-term rentals and I was able to deduce that because my income will be considered active that a C Corp will my best option.
However I'm under the impression that a C Corp actually has corporate bylaws or some form of corporate governance laws. I still want to hold all the cards in this situation too. Do you have anything on that as well or that's not really in your scope ?
Yes, we can assist. If you would like a FREE 30-minute consultation, you can request one here
- aba.link/30minSession
👏👏👏👏 Thanks
What happens if there is no money to keep the property and the trust say not to sell the property ?
You will have to borrow or ask the beneficiaries to take care of the expenses.
leave cash in the llc? i want to invest that cash, if i leave it there for ever i will lose 5..10% every year
You cash will sit in the LLC until you are ready to invest.
@@ClintCoons i thought you said cash need to be there to cover legal fees etc for when i die, i.e for a long time
@@user-yd8wp8rz2b right , but why is this relevant to my comment ? if you plant o leave the money for longer than a year (i.e not plan to die tomorrow) , then you lose a lot of money that you could have invest somewhere , the longer you have the more money you will lose in this strategy