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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Trust to Trust Posted by Ward-CA- on August 21, 2001 at 6:10 PM In Reply to: Trust to Trust posted by Troy on August 20, 2001 at 10:14 AM : Ward, taking title via the Title Holding Trust is becoming much clearer. Let me ask you a couple different questions: : 1. In the above example, let's say the FUB (follow-up buyer) wanted to place the property in their family trust and take it out of the Regency Trust? How would he do this? : 2. Or, let's say that the FUB had one LLC which encompassed all his properties, and all of his properties were held in trust. Could the FUB take title to this new property acquired from the OFB as the Trustee of his LLC? And if so, I assume that the Regency Trust would still survive, and that you would want it to. It's just that now it is controlled by his LLC, not the OFB's. : In this first question, the property transfers between trusts, right? In the second question, the property remains in the same trust, but control transfers between two different LLC's, correct? What is the difference and pros/cons between a family trust and LLC? =•=•=•=•=•=•=•=•=•=•=•= Troy, the versatility of the trust allows you to do just about anything you can think of: 1) Buyers of a property that’s already in a trust, can elect to either buy the existing trust and with it the unfettered control of the property in the trust’s portfolio or have the trustee of the existing trust, deed the property directly to them or to their trust. 2) Usually when a propertied trust is sold to someone else, the buyer wants to keep it in the trust but wants their own trustee substituted in. So the seller would have his Trustee (the LLC) use a deed and transfer the trusteeship as follows. (GRANTOR )Park Place LLC, Trustee of the Regency Trust, dated 8-17-01 - (GRANTEE) Wily Coyote LLC, Successor Trustee of the Regency Trust, dated 8-17-01. 3. The use of an LLC eliminates someone suing you, both as an individual and as the trustee of a particular trust. The use of the LLC telegraphs to them there’s not going to be any individual available to be personally liable to them for damages of any kind. Good luck. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : Ward, taking title via the Title Holding Trust is becoming much clearer. Let me ask you a couple different questions: : : 1. In the above example, let's say the FUB (follow-up buyer) wanted to place the property in their family trust and take it out of the Regency Trust? How would he do this? : : 2. Or, let's say that the FUB had one LLC which encompassed all his properties, and all of his properties were held in trust. Could the FUB take title to this new property acquired from the OFB as the Trustee of his LLC? And if so, I assume that the Regency Trust would still survive, and that you would want it to. It's just that now it is controlled by his LLC, not the OFB's. : : In this first question, the property transfers between trusts, right? In the second question, the property remains in the same trust, but control transfers between two different LLC's, correct? What is the difference and pros/cons between a family trust and LLC? : =•=•=•=•=•=•=•=•=•=•=•= : Troy, the versatility of the trust allows you to do just about anything you can think of: : 1) Buyers of a property that’s already in a trust, can elect to either buy the existing trust and with it the unfettered control of the property in the trust’s portfolio or have the trustee of the existing trust, deed the property directly to them or to their trust. : 2) Usually when a propertied trust is sold to someone else, the buyer wants to keep it in the trust but wants their own trustee substituted in. So the seller would have his Trustee (the LLC) use a deed and transfer the trusteeship as follows. (GRANTOR )Park Place LLC, Trustee of the Regency Trust, dated 8-17-01 - (GRANTEE) Wily Coyote LLC, Successor Trustee of the Regency Trust, dated 8-17-01. : 3. The use of an LLC eliminates someone suing you, both as an individual and as the trustee of a particular trust. The use of the LLC telegraphs to them there’s not going to be any individual available to be personally liable to them for damages of any kind. : Good luck. Optional Link URL: Link Title: Optional Image URL: [ 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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