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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Domestic vs foreign entities... Posted by Ward-CA- on April 25, 2008 at 2:05 PM In Reply to: Re: Controlling your trust's trustee posted by hard money lender on April 25, 2008 at 8:25 AM HML, I always create my holding entities in the state where my properties are located. So for my self-storage facility in AZ I created an AZ LLC that holds title to that property. And when I go to St. George, Utah I'll form a UT LLC for any development we do there. ---------Ward ========= : thanks ward, : i hope to stay out of the property ownership business, but if i end up with long-term ownership, i may have to re-adjust how i do things. : do you file in california, or a state where things are less expensive ? : i know california has an annual $800 fee. : with a regular trust, if you have the correct language, one can place/change it to any state desired. : this is an important clause, because it allows the trustee to move it to a state without perpetuity laws. Follow Ups: Re: Domestic vs foreign entities... hard money lender 5:47 PM, 04/25/08 (1) Re: Domestic vs foreign entities... Brent Carlson 3:04 PM, 04/26/08 (0) Post a Followup: Name : E-Mail : Subject : Comments: : HML, : I always create my holding entities in the state where my properties are located. So for my self-storage facility in AZ I created an AZ LLC that holds title to that property. And when I go to St. George, Utah I'll form a UT LLC for any development we do there. : : ---------Ward : : ========= : : : thanks ward, : : i hope to stay out of the property ownership business, but if i end up with long-term ownership, i may have to re-adjust how i do things. : : do you file in california, or a state where things are less expensive ? : : i know california has an annual $800 fee. : : with a regular trust, if you have the correct language, one can place/change it to any state desired. : : this is an important clause, because it allows the trustee to move it to a state without perpetuity laws. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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