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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] LLC vs Trust Posted by SeanW on June 30, 2003 at 9:54 PM In Reply to: Re: Keeping your trustee honest... posted by Travis-CA on June 30, 2003 at 7:00 PM : : Doesn't using your LLC as the trustee of your THT's avoid all of this? I decided to try using trusts first, since they don't have to be recorded or registered, and they don't come with any "corporate" bookkeeping. After I have flipped several houses and this becomes more "real" as a business, I may form an LLC. FWIW, I asked a R.E. attorney if an LLC is completely private in N.C.-- and he said if an attorney files the LLC paperwork on behalf of the incorporator, then the president of the LLC could not be looked up via the secretary of state's website. I have no idea if that's accurate for all states. But it makes sense that the LLC is best for liability protection, and the trust for privacy. I guess that's why some investors choose to use both. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : : : Doesn't using your LLC as the trustee of your THT's avoid all of this? : I decided to try using trusts first, since they don't have to be recorded or registered, and they don't come with any "corporate" bookkeeping. After I have flipped several houses and this becomes more "real" as a business, I may form an LLC. : FWIW, I asked a R.E. attorney if an LLC is completely private in N.C.-- and he said if an attorney files the LLC paperwork on behalf of the incorporator, then the president of the LLC could not be looked up via the secretary of state's website. : I have no idea if that's accurate for all states. But it makes sense that the LLC is best for liability protection, and the trust for privacy. I guess that's why some investors choose to use both. 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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