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what are the benefits of placing a home in a trust?

  • May 12 2010 - Springfield
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Answers (3)

Profile picture for Chip Roper
Lawyers will give you the best advice.. but I believe trusts are best for estate planning and taxes. 
  • May 15 2010
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Profile picture for Ofe Polack
Contact an attorney, it all depends on the purpose you are seeking when creating a trust.  Good luck! 
  • May 13 2010
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It's best to sit down with a lawyer to discuss the specific benefits of a land trust, but in a nutshell it's asset protection.  It's a barrier between you and the land, and could potentially keep it safe from harm in the event you file bankruptcy or are sued.  You technically don't own the property, the land trust does.  You will still be tied to the land as a Trustor or Beneficiary, but it removes the immediate connection.

This is a very simplified summary of a land trust, and it should not be considered binding legal advice.  Again, your best bet is to sit down with a lawyer and discuss the true pros and cons of a land trust.
  • May 12 2010
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