49 Reasons To Use A Land Trust

1. Avoids property being probated (out of court transfer upon death of beneficiary)

2. Ease of Transferability (Documentary stamps may be avoided as well as title insurance)

3. Judgments against the beneficiary do not attach to the property (This allows an individual with judgments and or liens to buy and sell real estate freely without having to worry about those judgments or liens attaching to the property).

4. No Partition (avoids spouse's "forced share" sale buyout upon divorce)

5. Easier management with multiple owners (multiple owners do not have to sign docs)

6. No costs upon transferring beneficiary

7. No registered agent needed

8. Legal and Equitable property interest in trustee's name

9. Income and Expense conduit, not a business with tax consequences

10. No tax return to file (pass thru entity)

11. Trustee has no personal liability

12. No annual fees like other entities (if trustee is an individual or friend)

13. Estate planning - successor beneficiaries

14. Avoids state sales tax on transfers (in most states)

15. Avoids the due on sale clause

16. Privacy of ownership

17. Keep sales price private

18. Able to fracture interests of multiple owners w/o being partners

19. Ease of linkage to other asset protection entities

20. Non-judicial repossessions of real estate sold on installment contract

21. 1099 not required for transfers (personal property not subject to real estate regulations)

22. Ease of operating across state lines

23. Ability to insert poison pills

24. One Hundred Years of case law to support land trust usage

25. Many attorneys do not study this section of the law - not profitable for them

26. No recordation of the Trust Agreement

27. To avoid "seasoning" problems (secondary market rules of ownership)

28. To save title insurance premiums (Trustee is the insured)

29. Good negotiating technique in the sale/purchase of property

30. To provide non-recourse financing

31. Stabilizes real estate taxes (prevents re-assessment)

32. Avoids state regulations that apply to corporations and LLC's

33. Using the Beneficial Shares as collateral for a loan (makes for quick borrowing)

34. Protection from Title Claims (claims limited to the trust)

35. Helps avoid Identity Theft of your name and signature

36. Makes contracts "assignable"

37. Protection from Homeowner's Association Claims

38. Helps keep the Title clear of defects

39. Can use Beneficial Interest as Collateral

40. Good structure for doing business with others without using your personal name

41. Land Trusts and Corporations

42. No Personal Credit Reporting

43. Aides with Strategic Foreclosure

44. Ease of Management in the Event of Conflict (allows for buyout provisions)

45. Estate Planning Tool (transferring of Beneficial Shares)

46. Ease of Managing the Disability of the Trustee or Beneficial Owner(s)

47. The Beneficiary' Interest Can be Used as Collateral for a Loan

48. Save money on State Income tax

49. Land Trusts create a lot of uncertainty

As you can see, Land Trusts are a wonderful tool for you to hide your assets, avoid real estate tax increases, privatize your sales transactions, avoid probate and use for many other benefits. Now you have a BASIC understanding of why people use Land Trusts. Are you working hard to acquire assets? You will spend a life time building your financial estate... spend a little time and money learning how to protect your net worth from the deadbeats and their contingency fee lawyers!

Randy is a full time real estate investor who purchased his first rental house in 1969. He has purchased over 200 houses and teaches other investors how to put their properties into Land Trusts for privacy and asset protection. Randy is a national teacher, author and mentor. Randy writes the only Land Trust Newsletter in the county and is the founder of the Land Trust University (an institution that teaches real estate investors how to set up and administer their own Land Trusts). Residing in Illinois (the granddaddy state of Land Trust Law), Randy knows more about Land Trusts and how to link them to other entities than anyone else in the America today. You can reach Randy at: http://www.realestateforprofit.com or call him at 866-696-7347. You can also follow Randy on Twitter (landtrustexpert) and Facebook (realestateforprofit)

Land Trusts Made Simple 101

Illinois was the first state to create land trusts and is the reason other states sometimes refer to such trusts as "Illinois land trusts." Florida, Indiana, South Dakota, Virginia, and Hawaii are among the other states that recognize land trusts by statute. Many other states recognize the validity of a Land Trust but do not have specific statutes authorizing their use.

Ultimately the property itself can be reached in a lawsuit (even with an out-of-state trustee), but your plan should be to stay as far away from the eye of the storm as possible so they do not reach any of your other assets. A judgment lien levied against your individual 10 unit building is one problem. But, a judgment rendered against you--in your personal name, is a much worse situation.

The next important piece to the land trust puzzle is the DIRECTOR of the trust. When a deed is prepared conveying a property into a land trust, the deed must state that the trustee is merely holding title to the property without any rights to mortgage, lease, convey, exchange, option, barter, etc. Without written direction from the beneficiary or someone he has appointed, the trustee cannot act and nothing can happen. However, if the beneficiary designates a director to act on his/her behalf, then the fun begins.

The length of tenure and limits of authority can be restricted for the director in the land trust agreement, thus insuring no abuses would occur. After the term of the director has expired, the power of direction can automatically pass to the SUCCESSOR DIRECTOR or revert back to the original beneficiary. It is important to maintain a director for your trust if you want "control" of your trust out of your hands and in the hands of someone you can trust.

It is possible for one person to be all of these people: trustee, beneficiary, and director. Hopefully by now you can see the disadvantage in such a structure.

Oftentimes lawyers recommend that the trust be named after the owner such as, THE JOHN DOE LAND TRUST and that the owner fill all the positions mentioned above. If your lawyer suggests this, get a different lawyer (preferably one that has actually studied Land Trust law longer than one hour).

Your director should be chosen as carefully as your trustee. Again, if you have developed friends that understand "the program", you can all help each other and accomplish the privacy you are seeking. Once you begin to understand land trusts you will discover that you really do not even need to name a trustee when forming a trust. You can just give the trust a name (what's in a name?--see below) and "wing it" until such time as you need to deed the property back out of the trust. But, this is a whole other subject too lengthy for this report.

Again, your director should ideally be located in a different state (and use a P.O. Box address) than the rest of your "group." If this is not possible at least select your director from another city than yours. All of these positions that we are discussing should have successors listed in your trust agreement to insure the orderly passing of power, according to your desires.

It is extremely important to keep the trustee and the director legally separate. The trustee should never do anything with the trust assets unless directed to do so by the director through a Letter of Direction. If you don't have confidence in a single director, you can create a Board of Directors. Thus you can require a majority vote before any action is taken (direction given to the trustee).

You might select some relatives and some non-relatives to serve as co-directors. Or you might put some of your heirs on the board of directors to initiate them into the world of land trusts (so they will be familiar with the subject matter when it is their turn to "take over the reigns").

Whatever you do, be sure that you can trust your director(s) implicitly and select someone who is of a like mind as yours. If no such person is available to you, then you can be the director of your own trust. The appointment of a director is a private non-recorded act that need be publicized only when made necessary by an act of the beneficiary (you). So you can still retain control in a very indirect way.

States have different laws when it comes to the use (and abuse) of Land trusts, but Illinois is by far the Granddaddy of them all. Illinois actually developed the modern day "land" type trust from English common law; however, specific statutes in other states permit the existence of land trusts.

When properly drafted, land trusts can be used in most all states. However, some states are smarter than others so, check your own state laws. For example, in some states you can avoid the transfer tax levied on real estate transactions by placing your property into a land trust and then selling the beneficial interest in the trust. But, other states have passed laws requiring notification of the taxing bodies if even a part of a beneficial interest is transferred (i.e. Illinois).

This way they can not only charge you a transfer tax, but also increase your real estate property taxes as a result of the new sale price. Fortunately no state has yet been able to figure out a way to tax the sale of an OPTION on a beneficial interest. Options are extremely private transactions and will be addressed in future reports.

When financing property held in trust, a commercial lender will (if they are smart) require an assignment of the beneficial interest and an assignment of the power of direction. This effectively gives the lender control of the property and prevents any funny business by the beneficiary. Obviously, dealing with a commercial lender violates your confidentiality as the beneficiary.

Although by having your trustee sign the note and mortgage (and you just signing the assignment forms and guarantee), you at least will not have your name published in the local county recorder when all the documents are filed. In other words, no one will know that the property is yours and that you are placing financing on it.

One of the most important concepts to place in your land trust agreement is the restriction on your trustee to never reveal the name(s) of the beneficiaries nor their locations. You can also prevent the trustee from revealing the location of the beneficiaries or releasing a copy of the Trust Agreement without written permission of 100% of the beneficiaries, or a written court order that contains an indemnification clause protecting the trustee from a lawsuit for "breach of trust."

Now, if too much pressure is put on your trustee, his only alternative is to resign as your trustee--thus keeping your confidentiality. Furthermore, if your trustee is out of state and only has a P.O. Box for an address, it is going to be very difficult to find him to begin legal proceedings.

It is not illegal to operate under a "fictitious" name. Just fill out a simple form at your county court house and viola--you're someone else! Imagine that your trustee is operating under a fictitious name and your trust is operating likewise. This will drive the process servers crazy!!

Randy is a full time real estate investor who purchased his first rental house in 1969. He has purchased over 200 houses and teaches other investors how to put their properties into Land Trusts for privacy and asset protection. Randy is a national teacher, author and mentor. Randy writes the only Land Trust Newsletter in the county and is the founder of the Land Trust University (an institution that teaches real estate investors how to set up and administer their own Land Trusts). Residing in Illinois (the granddaddy state of Land Trust Law), Randy knows more about Land Trusts and how to link them to other entities than anyone else in the America today. You can reach Randy at: http://www.realestateforprofit.com

Or, follow Randy on Twitter.com at "landtrustexpert"

Administration Of A Probate Or Trust Estate - Selling The Decedent's Real Estate

As a Trustee of a decedent's trust or as a personal representative or executor of a decedent's probate estate, you may be required to sell the decedent's real estate. In doing so, you will be confronted with legal issues and requirements as well as practical issues. I will address both in this article.

If the decedent or his trust owned real estate at the time of his death, then you, as personal representative or trustee, first have an obligation to secure and preserve the property. If someone is residing at the property, you need to determine whether that person has the right to be there. If not, you have an obligation to act in the best interests of the beneficiaries. This may mean filing a suit for eviction or using some other legal means to gain possession of the property. You are also responsible to make sure that the property is properly insured. The insurance company or agent should be notified of the decedent's death because the vacancy of the property may affect the terms of the coverage. Once these issues are resolved you can then concentrate on the disposition of the property. The procedure for disposing of real estate will differ based on whether the property is held in trust or as part of a probate estate, but many of the fundamentals will be the same for both.

Disposition of the Property.

How you are to handle this disposition of real estate is determined by the terms and provisions of the Will or Trust you are administering. There are a variety of these types of provisions contained in Wills and Trusts. The following are some of the more common examples:

1. Sell the property and distribute the proceeds.

Occasionally the decedent will direct that the trustee/personal representative/executor ("administrator") sell the real property and distribute the proceeds among certain beneficiaries. In this situation the administrator would have authority and be responsible for the sale of the property. This would include the preparing of the property for sale, marketing the property (with or without a real estate broker), negotiating the contract and closing the transaction.

After the sale is completed, the administrator will distribute the net proceeds to the beneficiaries (after deducting the cost of marketing and sales, including the closing costs, taxes and other expenses) according to the terms of the Will or Trust.

2. Transfer the property directly to a beneficiary or beneficiaries.

The first step is determining how the property is titled. I have represented trustees who believe that a parcel of real estate was titled in the name of the trust he was administering. When we searched the title, we discovered that the decedent never transferred ownership of the property from his own individual name to that of the trust. As a result the property was a part of the decedent's probate estate.

Selling a Decedent's Property.

The sale of probate property or other property of a decedent has its own unique issues. In many cases the success of a sale depends on the closing occurring in a timely fashion. It is important that the personal representative have the authority to sell the property as early as possible. If the will contains a power of sale, the personal representative is authorized to sell the property upon being appointed by the court. If a decedent dies intestate or executes a will with no power of sale, a personal representative may sell real property only with the authorization or confirmation by the court. No marketable title passes until the sale is authorized or confirmed by the court. In any case, the proceeds of the sale cannot be distributed to the beneficiaries until after all of the decedent's debts have been paid.

The Contract.

The most important document in any real estate transaction is the contract for sale and purchase. It is the blueprint of the transaction. All of the items you negotiated with the buyer should be included in the contract. Because of this, it is extremely important that the contract be drafted to clearly express the full intent of the buyer and seller. If a point you negotiated is left out of the contract, it is likely you will not be able to enforce that point.

Real estate transactions in most states are subject to the Statute of Frauds which means that all agreements for the sale of real estate must be in writing. The writing does not have to be a formal contract. There are many cases where letters, notes, memoranda and other writings have formed an enforceable contract. However, to have a clear understanding of your intent and the intent of the seller, it is best to state the agreement in a single properly prepared contract.

Learn more about administering an estate with step by step directions, checklists and forms from Dean Hanewinckel's E-Book, What To Do When A Loved One Dies - A Survivor's Guide. You can order it at http://www.floridaprobatesecrets.com. Dean Hanewinckel is a probate, estate and legacy planning attorney in Southwest Florida. He is the author of 3 books. In addition to What To Do When A Loved One Dies, he has published Manifest Your Legacy and The Official Snowbird's Guide To Becoming A Florida Resident, both available at Amazon.com.

Pet Trusts - How Does a Pet Trust Work?

When hotel heiress and billionaire Leona Helmsley died in 2007, her pet Maltese, Trouble, became the beneficiary of a $12 million pet trust that Helmsley had established as part of her estate plan. Mrs. Helmsley cared very deeply for her animal companion. Although she left money in her will for Trouble, she failed to secure a legally enforceable pet trust to ensure that her beloved Trouble would be provided for even after her death.

Most pet owners won't have the resources available to provide for their pets to the extent that Mrs. Helmsley did. In fact, according to Lawyers Weekly USA, the average amount left to pets is closer to $25,000. But, like Mrs. Helmsley, most pet owners are concerned about providing long-term care for their pets, and want to make sure that their wishes are carried out in the event of their death or disability.

As a pet owner in California, you can create a pet trust that will provide for the care of your "beloved pet" when you are no longer able to care for the pet yourself. Pet trusts are more secure than simply leaving money in your will, and provide specific instruction for the caretaker and beneficiary of the trust. To begin planning for the care of your pet, you should identify a family member or friend who you would trust to care for your pet and who would be willing to provide for the animal's care. A pet trust allows you to designate this trusted person as your pet's trustee. In California, your trustee will be legally obligated to make arrangements for the proper care of your pet, according to your instruction. They will also hold the money and/or property that you transfer to the trust for the benefit of the pet. In addition to the pet's trustee, you may also designate a caregiver, or beneficiary, who will be responsible for caring for the pet over the lifespan of the animal.

Because California pet trusts are legally enforceable arrangements, as a pet owner, you can be assured that the instruction you provide regarding your pet's care will be carried out. A trust can be very specific, so it is important to discuss your pet's health needs, care, and routine with your designated caregiver. For example, if your cat is allergic to a particular brand of food, or your dog needs to be bathed once a week, this can be specified in the trust agreement.

As a pet owner, you know your pet's particular habits and needs better than anyone else. With a pet trust, you can describe the kind of care your pet should have, and you can list the trusted people who would be willing to provide that care. If you are a pet owner who wants to establish a pet trust, or otherwise provide long-term care for your pet, a qualified estate planning attorney who has experience creating pet trusts in California will be able to help you understand your pet trust planning options, and will be able to assist you in designing a pet trust that meets your needs and those of your pets.

Kevin Von Tungeln is the Managing Partner of TVTTrustLaw.com and Thompson Von Tungeln, P.C. Kevin practices exclusively in the areas of estate planning, probate, wills, conservatorships and trust administration. Visit http://www.TVTTrustLaw.com or call (661) 945-5868 to learn more.

Think You Don't Need Estate Planning Because Everything is Owned Jointly?

I can't tell you how many people tell me that they are not worried about estate planning because they own everything jointly with their spouse, so it doesn't really matter.

WRONG!

Here are a few reasons why that kind of thinking costs thousands of dollars (at least):

1. What if you both die at the same time?

If you and your spouse die in the same accident and you have no planning in place, you're looking at spending a heck of a lot in probate fees. We estimate right now that probate costs approximately five (5) percent of your gross estate value. So (to give a little perspective) if all you own is a house worth $500,000, you're paying $25,000 to the court and your personal representative, possibly more when you take attorney's fees into account.

And that's not all. If you have minor children when you die without any planning in place, your kids are each going to get their share of inheritance when they turn 18. Yes, the law requires this! The law also does not discriminate with age when it comes to inheritance. So, your 20-year-old son and your 2-year-old son will inherit the same amount of money! Not what most parents would have wanted.

2. You could miss out on certain tax advantages only afforded married couples.

When you plan for death with joint ownership, what you effectively do is delay tax payment. What you lose when you plan this way is the tax benefit that married couples are afforded. Each person has a certain tax exemption when it comes to paying estate taxes ($3.5M for 2009, No tax in 2010, then $1M in 2011 and beyond). But with joint ownership planning, you lose one of those exemptions all for the sake of delaying payment. Each married couple should be planning for two tax exemptions. It might not be worth it in your case to lose that all for the sake of delaying any payment.

3. Your assets are not protected after your death.

If you die before your spouse and own everything jointly, you're leaving an unprotected estate to your spouse and kids. If your spouse has creditors, they can reach all of the estate. If your spouse remarries then divorces, he or she may lose some of your estate to the ex. Or, if your spouse remarries and dies, there's no guarantee your kids will see any of that inheritance. Even if your spouse doesn't remarry, if he or she doesn't do any further estate planning, after his or her death, your children will receive their inheritance outright and unprotected. So, your child's creditors or ex-spouse may have a claim to it.

4. You lose the benefit of stepped-up basis.

Many married couples don't plan for taxes, maybe because their estate is not taxable for estate purposes. But what happens when one spouse dies and the survivor needs or wants to sell the family home to pay for new expenses or just to downsize?

Normally, when you sell property, you are taxed on the gain - the difference between the sale price and the "basis" price (usually the amount you paid for the property). When people own property as tenants by the entirety or as joint tenants with right of survivorship, they receive a stepped-up basis on half the property, but retain the same basis on the other half.

Here's an example based on one from the book The Living Trust, by Henry Abts. (The book is really written for non-lawyers to understand the benefits of planning with a Living Trust.)

A couple buys a piece of land for $20,000 and holds title as Tenants by the Entirety. By the time the wife dies many years later, the property is worth $1,000,000 because they built their dream home on it and it's in a great location. The husband's half of the property retains a $10,000 basis, but the wife's receives a stepped-up basis at her death - $500,000. So, let's say that the husband decides that he can no longer live in this beautiful house that he and his wife built together and spent so many happy years in. He sells it for $1,000,000. With a basis of $510,000, his taxable gain is $490,000. However, he does still get the personal residence exclusion of $250,000, so his taxable gain is $240,000. At 15%, husband would pay $36,000 in taxes.

By contrast, had the couple put their home into a community property living trust, the home would have received the entire stepped-up basis at the time of the wife's death, and the husband would have had no taxable gains.

(By the way, the situation is even worse if the husband had decided to rent out the home for a few years before selling it, because he couldn't have claimed the personal residence exemption, but this would have been a non-issue if the home had been held in a living trust.)

(Another by the way: A living trust is especially necessary when you have multiple properties, because you can only claim one as your personal residence for the exemption.)

Planning with a Revocable Living Trust is a far better way to go. You retain lifetime control over your assets, but leave a much cleaner situation for those you leave behind.

Candice N. Aiston is a Mom and Personal Family Lawyer®. She takes her clients by the hand and walks them through every legal and practical step necessary to protect their families and to make sure that their voices are always heard, no matter what happens. To download a copy of her free report, "The 9 Planning Mistakes Parents Make," please visit http://www.candiceaistonlaw.com

Using Seller Carry Back Trust Deeds to Buy Real Estate

Seller carry back trust deeds are mortgages financed by the seller. In today's real estate market, many buyers find it difficult to qualify for a home loan due to poor credit or insufficient down payment funds. Entering into a seller financed contract allows them to buy property while working to improve credit scores.

Seller carry back trust deeds are used to secure the transaction just as a mortgage note does through a bank. Sellers can finance all or part of the purchase price. When partial funding is offered, borrowers must obtain remaining funds through a financial institution or hard money lender.

When property owners carry financing a real estate contract must be executed, along with property transfer records. Three parties are involved with mortgage trust deeds and include the Trustor, Trustee, and Beneficiary.

The Trustor refers to the seller. Beneficiary refers to the person who receives income from the mortgage note and can include the seller or mortgage financier. The Trustee is the person holding legal title to the property. In many cases, the seller wears all three hats. It is the responsibility of the beneficiary to collect payments from the borrower.

Owner financed mortgage deeds are secured with a promissory note. The deed is submitted through the court to record a lien against the property. The real estate is used as collateral. Once the loan obligation is fulfilled the Trustor transfers legal title to the buyer. If the borrower defaults on loan installments, the Trustee can initiate foreclosure action.

Trust deeds can be a good option for credit-challenged buyers, as well as real estate investors. However, anyone engaging in this type of financing should have contracts drafted by a lawyer to ensure documents are legally-binding and protect both parties in the event of default.

Both parties should engage in due diligence by conducting background and credit checks, obtaining appraisals and inspections, and verifying the property is owned by the seller. If the property owner holds a mortgage note against the home, buyers must be vigilant about verifying that the loan is in good standing.

There have been instances of sellers offering lease options and trust deeds on preforeclosure homes. Once properties fall into foreclosure, the buyer must negotiate with the bank to purchase the home. Otherwise, all vested funds could be lost.

Owner financed contracts generally last between two and five years. Buyers must strive to establish or rebuild credit in order to refinance the loan once the contract expires. Some owners require buyers to provide a down payment. All payments must be carefully tracked and reported to the IRS. It is strongly recommended to consult with a tax professional to determine tax benefits, deductions, or penalties which may be assessed with real estate trust deeds.

Last, but not least, take time to do your homework before entering into seller carry back contracts. While most property owners are honest, there are some who are only out to make a quick buck and will eventually sell the note to another buyer. This could lead to serious consequences for the buyer.

Talk to trustworthy investors or real estate lawyers to gather the facts. Weigh the pros and cons to determine if owner financing is in your best interest. Investigate and research before making a final decision. Rushing into any home buying deal could be a costly mistake. Don't become a victim of foreclosure because you want a house so bad you're willing to do anything to get it.

Author and California real estate investor, Simon Volkov provides valuable information regarding seller carry back trust deeds and creative financing strategies to help buyers make informed choices. His article library includes home buying tips, foreclosure prevention, credit repair, personal finance, and investing information available at www.SimonVolkov.com.

Using an Estate Trust to Avoid Probate

A trust is used to protect valuable inheritance assets and quickly settle the estate. Property placed inside the trust can be distributed to designated heirs within a short period of time. Depending on the type of assets, inheritance property placed into the trust may be exempt from inheritance taxation.

Placing estate assets into a trust is the only way to avoid probate. The duration of probate can extend for a few months or a few years, depending on if decedents engage in estate planning strategies prior to death.

Several reasons exist for placing inheritance property into a trust. The first is ease of distribution to heirs. The second is exempting items from taxation. The third is to avoid probate and the fourth is to keep estate matters private.

Decedents' last will and testament is a matter of public record when the estate must endure the probate process. The information contained in the Will can be used by investors who buy probate property. Those who prefer to retain their privacy should consider placing inheritance property into a trust.

Establishing a trust is a relatively easy process. However, ensuring the trust is properly executed requires assistance from a professional estate planner or attorney. A variety of trusts are available, but the most common include life insurance trusts, testamentary, revocable and irrevocable trusts.

Most people can establish their trust within a day. The first step involves choosing an estate planner to assist through the process. A good place to start is by asking family or friends for a referral. Banks and credit unions often offer estate planning services at discounted rates for customers. Estate planners can also be located in phone directories.

Establishing a trust can also help prevent family disputes surrounding distribution of inheritance property. Death can cause people to become emotionally distraught and act in inappropriate ways. Family members who feel they have been cheated out of valuable property, or those who have been disinherited, often go to extreme lengths to acquire items they feel entitled to. Although placing items into a trust does not provide an ironclad guarantee that prevents heirs from contesting the Will, it does minimize the risk.

When scouting out estate planners, it's best to work with someone you feel compatible with. Estate planning is a personal task that can sometimes be emotional. After all, you are planning for arrangements of your death and making important decisions regarding who will receive everything you have worked your entire life to acquire.

Estate planners and probate attorneys often offer complimentary consultations to evaluate needs and discuss fees. It's smart to consult with at least three professionals to determine which is best suited for your needs.

Trusts can be customized to suit your needs. Each type of trust has its own set of unique features, but all are comprised of four basic elements.

1. The person establishing the trust is known as the Grantor

2. Trusts are managed by a Trustee

3. Trusts have a Principal

4. Trusts have Beneficiaries

In order to transfer inheritance assets into a trust, Grantors must create a detailed list of property, along with property appraisals and legal titles for automobiles, real estate, and other titled property.

The principal refers to money used to generate income for heirs. Trustees are allowed to use principal funds for estate-related expenses or investment purposes. If investment products are used to generate dividends, the proceeds must be used for future investments.

Beneficiaries refer to individuals designated to receive inheritance property. Grantors can bequeath property to whomever they desire, but most gift assets to their spouse, children, parents, or siblings.

Trusts are normally reserved for estates valued at $100,000 or more. Individuals whose estates are valued at less can engage in estate planning strategies which allow them to avoid probate. Estate planning is one of the best gifts anyone can leave their loved ones. Working with an estate planner or probate lawyers can ensure you develop an ironclad trust and prevent family disputes.

Learn how to establish a trust or incorporate estate planning strategies to avoid probate from real estate investor and probate liquidator, Simon Volkov. His website includes a comprehensive probate and trusts article library, along with valuable estate planning resources at www.SimonVolkov.com.

Pet Trusts - Funding a Pet Trust (Part I)

For some pet owners, the question is not whether to create a pet trust; the consideration of who will care for their animal companion when they are no longer able to do so leaves a pet trust to be the only viable alternative. The questions for many, however, are when to fund the pet trust, and the amount of funds that should be left for their pet's care. The answers to these questions are rarely the same from one individual to another, as the timing and amount of funding for a pet trust depends upon the type of pet trust created, and the size of the estate owned.

If you create an inter vivos trust (or "living trust") for your pet, the funding must immediately follow in order for the trust to take effect. There are several ways to achieve this: among them being direct transfer of money or property and creation of a life insurance policy with the trustee (your pet) named as the beneficiary. For California pet trusts, both methods are viable, and both should take place under careful consultation with a pet trust attorney who understands the specific statutes related to the creation and funding of pet trusts in California.

Direct transfer could be as simple as writing a check to the order of: [name of trustee], trustee of [name of the pet trust]. The check will be cashed, and will be ready for your pet immediately, should you become unable to care for your pet on your own. However, direct transfer could also mean more complicated legal procedures, such as transferring land or other owned property, with the trustee as beneficiary. In such cases, a qualified California pet trust attorney will oversee the transfer of property, including preparation of a deed.

You may also fund a pet trust under a provision in your will. This includes the specific naming of property, and the amount of the sale of such property that would go toward funding the pet trust. A pet trust attorney will be able to counsel you regarding the best way to assure that the part of your estate that you use to fund the pet trust will be adequate for the proper care and well being of your pet.

The laws regarding estate planning and pet trusts are constantly changing in California, and can be difficult to navigate on your own. Consulting a pet trust attorney with experience in creating pet trusts in California could help you clarify your own understanding of these legal processes, and help you determine the best way to proceed in assuring the lifelong happiness and care of your beloved pet.

Kevin Von Tungeln is the Managing Partner of TVTTrustLaw.com and Thompson Von Tungeln, P.C. Kevin practices exclusively in the areas of estate planning, probate, wills, conservatorships and trust administration. Visit www.TVTTrustLaw.com or call (661) 945-5868 to learn more.

Understanding Mexican Real Estate Trust Agreements

For the past 15 years, Cancun has thrived as one of the most desired overseas real estate investment and relocation hotspots for North American second home buyers. In recent years, the dream of owning property along the Yucatan Peninsula has also become increasingly attracting European investors.

Many buyers making their initial enquiries into the tropical paradise become confused when trying to understand the Mexican real estate trust agreements, otherwise known as a Fideicomiso. The processes involved in acquiring Mexican real estate are relatively straight forward, yet a little bit of initial knowledge can go a long way in comprehending the regulations relating to the purchasing processes.

As Cancun and the majority of the most sought after investment and relocation areas of Mexico are located along the coastal regions, they also fall into restricted zones. While previous to 1994 foreigners were not able to purchase real estate in Mexico, the changes in the law to attract foreign investment were accompanied by the zoning restrictions. Areas of Mexico falling into these restricted zones include any land within 50km of the coastline, or 100km of the country's borders.

A Fideicomiso trust agreement is required when purchasing property within the restricted zones. The trust agreement enables the equivalent of a title deed ownership, authorised by the Mexican government. The trust agreement is set up by a Mexican bank acting as a trustee, with a validity of 50 years.

The foreign buyer becomes the beneficiary to the trust, enjoying full ownership rights such as the ability to re-sell, rent, mortgage and inherit. The bank acting as the trustee is legally obliged to respect the buyer's full rights and follow any instructions provided by the benefactor.

Regulations by the Mexican government ensure that only selected banks are authorised to hold the real estate trusts, where full examinations of the legal paperwork for the properties are carried out prior to completing the purchase. Upon expiry of the Fideicomiso, if not automatically renewed, the benefactor retains full rights to all the profits resulting from the use or sale of the real estate.

Since the granting of permission for foreigners to purchase real estate in Mexico's restricted zones, the demand for properties has sharply increased. Long established as a preferred holiday destination, the attraction of foreign investment for boosting the Mexican economy has lead to relaxing the laws towards real estate ownership. Real estate developments have been increasingly modified to comply with the demands of foreign buyers, with luxury properties constructed to typical US criteria becoming standard constructions.

When planning to purchase property in Mexico, the use of a legal representative familiar with the local processes is vital for ensuring full understanding of the processes involved. Continued demand is seeing capital gains continuing to grow, with rental demand providing exceptional returns in sought after areas of this year-round destination.

Property Investing Overseas [http://www.propertyinvestingoverseas.com] provide extensive experience dealing with and on behalf of investors throughout the world, offering unbiased information on portfolios and international markets. Our experience within the global property sector enables us a prime position for identifying professional agents and developers, ensuring our clients receive full knowledge prior to entering any property investment purchase with our collaborators. Visit our partner site at Property Investing Mexico [http://www.propertyinvestingmexico.com].

Land Trusts - Myths and Misunderstandings

ISSUE: My lender will not let me close my deal using a Land Trust (LT)

TRUTH: This depends on if you are using borrowed funds from a lender that must qualify you in the secondary market. If you must meet secondary market guidelines it is true that you must close the deal in your name, but you can put the property into a land trust the day after closing. Once you have 10 secondary market loans (the maximum allowed) you must use a portfolio lender and they will let you close using your land trust.

ISSUE: Do I have to get a tax ID number for my LT?

TRUTH: The answer is no. Nor do you have to register your Trust Agreement with anyone.

ISSUE: You can't do a Short Sale using a LT

TRUTH: False. You can and I have and there are many advantages to using a LT for this type of transaction.

ISSUE: Is it true that I must record my Trust Agreement to make it valid?

TRUTH: No, and 99% of the time you would not want to record your trust agreement. However, there is that 1% reason that you might want to record.

ISSUE: My attorney says Land Trusts are illegal in my state

TRUTH: This is probably not true. Almost all states recognize the validity of a LT or a similar type entity (Title Holding Trust, Common Law Trust, etc.). My experience is that a vast majority of lawyers do not understand Land Trusts and therefore do not recommend them. Too bad for their clients...they are missing out on 49 Reasons to Use a LT.

ISSUE: If I use my LLC as the beneficiary of a LT I must register the LLC in the state where the property (held inside the LT) is located

TRUTH: Wrong! Many accountants will tell you this, but they are incorrect. The beneficiary of the LT is not "doing business" in the state where the property is located...the LT is...and the LT is not required to register.

ISSUE: Land Trusts are expensive to set up and maintain

TRUTH: Not true. If you follow my advice to put each of your properties into a separate LT and you hire an attorney to do this for you, it WILL get expensive. But you do not need to do this. You can learn how to set up and administer your own LT (as many as you need/want) for only the continuing cost of recording each deed.

ISSUE: Land Trusts must have incorporation papers and the State notified

TRUTH: Wrong again! Land Trusts are not registered like corporations and LLC's on a state-by-state basis (in fact, they are not registered at all...anywhere!). This is one of the many reasons to start your estate planning with a LT for each property you buy.

ISSUE: I was told that my LT must open an account at a local bank

TRUTH: Not true. Since LT's are "pass-thru" entities in the eyes of the IRS you do not need a separate bank account for each Land Trust you form. You can set up an account but you do not have to and you will not have a tax ID number to use so you will have to use your own social security number (or, if your LLC is the beneficiary you might use your tax ID # for your LLC).

ISSUE: It is illegal to hide the ownership of property

TRUTH: I love this one. WRONG! It is not illegal to hold title to your real estate in a LT to hide the ownership. The president of the United States, Barack Obama, owns his home in Chicago, IL in a LT with his attorney serving as the trustee. If Barack can do it, so can you!

ISSUE: Can I buy the Beneficial Interest in a LT without buying Title Insurance

TRUTH: Yes, you can, but I would not advise doing this. I would always get a title policy and have the proper "search" done prior to transferring any funds. You want to make sure that the Trustee has clear title and there are no unknown liens or judgments against the property. You should also obtain a copy of the trust agreement and make sure the Trustee acknowledges EVERYTHING!

This is certainly not a complete list of misconceptions about Land Trusts, but is enough to digest for now. I will write more on this subject in future articles.

Randy is a full time real estate investor who purchased his first rental house in 1969. He has purchased over 200 houses and teaches other investors how to put their properties into Land Trusts for privacy and asset protection. Randy is a national teacher, author and mentor. Randy writes the only Land Trust Newsletter in the county and is the founder of the Land Trust University (an institution that teaches real estate investors how to set up and administer their own Land Trusts). Residing in Illinois (the granddaddy state of Land Trust Law), Randy knows more about Land Trusts and how to link them to other entities than anyone else in the America today. You can reach Randy at: http://www.realestateforprofit.com or by calling him direct at 866-696-7347.

Estate Planning Attorneys - How They Can Help You

Most of us don't put nearly as much though as we should into planning how our estates will be distributed, and the estimates are that nearly two-thirds of Americans die intestate, without having prepared a will. While their estates will eventually be distributed according the inheritance laws in their states, those laws may not reflect at all how they would have chosen to pass on their assets. If you want to avoid that situation, finding a firm of experienced estate planning attorneys is your best answer.

Estate planning attorneys have a comprehensive understanding of the probate process in your state, as well as up-to-the-minute knowledge of estate tax laws. They will help you ensure that your final wishes regarding the distribution of your estate, as well as your health care and life support wishes, are carried out.

Estate planning attorneys can help you regardless of whether you want to draft a simple will for a small estate; to change an existing will so that it reflects a change in your financial status; to establish a living trust; or to set up an estate plan which includes a will, trust, and your health care and life support directives.

Your estate planning attorneys will help you determine, from the existing state of your financial affairs, including your investments, real estate holdings, and personal property, what your estate planning goals should be. They will help you get a realistic picture of the potential needs of your survivors, and elicit a clear understanding of your final health care desires.

With that information, estate planning attorneys can then explain to you the best alternatives for seeing that your estate is handled as you wish. They will not only discuss wills and trusts; they will present options which you can employ immediately to lessen the taxes and probate costs on your estate.

Estate planning attorneys can also advise you as to whether or not any personal changes in you life will require a change in your estate plan. If, for instance, you are widowed or divorced, in you later years, and considering remarriage, you should be aware that there may be consequences for your estate.

Should you remarry late in life, you and you spouse will be responsible for the costs of each other's long-term health care should one of you be placed in a nursing home. Those costs be a significant drain on you, or you future spouse's, assets. For more information on estate trusts and attorneys visit http://www.estatecontractstrusts.com

If you have children from an earlier marriage and intend to remarry, changing your estate plan so that you will include your new spouse among your heirs, there is a possibility of conflicted feelings among your children. Estate planning attorneys can suggest ways in which you can begin to distribute the assets you intend to leave to you children assets among your children during your lifetime without it causing tax consequences.

Estate tax attorneys will draft and execute all the legal paperwork, including your will, living or testamentary trust, health care directive, and powers of attorney which are necessary to carry out you wishes. They will also do the research needed to make sure that the tax consequences to your estate are minimized, consulting with tax experts if needed.

Article by Dean Forster at http://www.estatecontractstrusts.com Learn more about estate planning protection and how attorneys can help at Estate Trusts

Estate Planning Law Firms To Take Care Of Your Assets

You have two choices regarding how your assets will be distributed to you heirs in the event of your death. First, the can be distributed according to the express wishes contained in the estate plan you drew up with the help of an estate planning law firm; or second, they can be distributed according to the laws of inheritance established by your state legislature because you o never found the time to make a will. As amazing as it sounds, two out of every three Americans end up picking Door Number Two.

If you have an estate to leave to future generations and you reach your retirement years, it is only natural that your family will be curious as to who gets what. If you don't even understand yourself, it's time you started thinking about planning your estate. Get out a pen a paper to organize your thoughts and figure out all of the assets you have including property, investments, annuities, and other items like jewelry, cars and antiques. Once your thoughts are organized, call to make an appointment with an estate planning law firm. They will come up with a plan to distribute and manage your assets while reducing taxes and probate fees.

If you have a large estate to distribute, don't rely on your family lawyer or accountant to execute your final wishes and settle your affairs. When you are ready start making your final arrangements, you need to talk to an estate law planning firm. One of the things they will talk you about is the expensive and unexpected costs that will come up upon your passing. They will also help you plan so that these costs can be paid quickly, so they don't hold up the distribution of assets to your heirs. There is a lot to learn about passing on a large estate to the rightful heirs, so talking to someone with this expertise is invaluable.

Any one you owe money to at the time of your death has to be paid before any of the family can have anything. This is why it is important to have liquid assets available in order to clear up any bills that are outstanding, so that the family can start getting paid. An estate planning law firm can set this up for you.

There are many ways to make your estate look meager and non-taxable to the court in order to keep your estate intact and pass the bulk of it on to your family. The idea is to separate your estate from your assets and keep them out of the probate process. For this you will need help. An estate planning law firm can develop gifting strategies and living trusts that can be arranged to be available at a specified later date.

Finally, estate planning law firms can give you guidance in deciding on your final health care directive, or living will. A living will is designed to let your caregivers know what sort of health measures you want or do not want during your final illness, should you become incapacitated. And a power of attorney for will let you choose the person to be in charge of your health care if you are unable to express your wishes. Read more about estate planning at http://www.estatecontractstrusts.com

It's a simple reality that having a layman's understanding of inheritance laws is simply not and adequate foundation for ensuring that your final wishes regarding your estate will be honored. You need the professional advice available from estate planning law firms, with their knowledge both of the law and of financial planning.

Making sure that their final affairs are in order is the best way for most people to enjoy retirement, their family and their life. Talking to an estate planning law firm is the first step to stop worrying and start relaxing.

Find out more about protecting and preserving assets with estate trusts including tips on estate law, how attorneys can help, making a will, estate planning living trusts and inheritance tax.

Discover Why You and Your Spouse/Partner Must Equalise Your Estates

It's not Rocket Science but estate equalization is something very few of us think about. And why should we? After all, when the two personal allowances for Inheritance Tax (I.H.T.) are added together the total estate can be value up to £650,000 before I.H.T. is due. Most of us will say that we don't have £650,000 in the bank, but that is not what I said.

Everything is taken into consideration when assessing an estate for I.H.T. The taxman looks at the value of your home (less any mortgage on it), your pension, investments, savings, cars, house contents, insurance policies like life cover and more. It is not very hard to have an estate worth more than £650,000.

To solve the problem and possibly save thousands of pounds in tax in the process, there are only three things to do.

STEP 1. Make sure that the tenancy agreement on your house is Tenancy in Common and not Joint Tenancy. It is very common for husband and wives especially, to have their tenancy agreement on their home as a Joint Tenancy. Read the deeds or talk to your solicitor to find out what kind of Tenancy you have and if it is not Tenancy in Common, then get it changed.

STEP 2. Once you have your tenancy agreement changed, now both of you write a Will. Remember to keep it simple and if you have any requests like favourite hymns at your funeral service then include them as a memorandum letter in your Will.

STEP 3. Finally, when the tenancy is of the right type, and the Wills are written, set up a Family Trust each and include these Trusts within your personal Will. You will only need £10 to set up each Trust. Each trust shall have your own half of the house plus any money, investments etc you both have. They don't have to be equal even though the process is known as estate equalization. You may have more or less money and investments than your spouse/partner, so the two Trusts may be different in size.

That's all there is to it. Now your money and your half of the house is safe for your children. They receive their legacies quickly, as probate is not required to settle the Trust and they can receive from the Trust your half of the value of the property.

Now for the good bit! You are dead and your spouse/partner has to go into a nursing home. The Inland Revenue don't recognise any value to half a house. You cannot sell half a house. So it has no value and thus cannot be assessed for the payment of Nursing Home Fees. So don't keep too much money in the bank.

The result is that you have ring-fenced your estate, minimised your I.H.T. liability, got your children their legacies quickly and financially protected your bloodline in the future. These Family Trusts last 125 years. I don't know how many generations that is.

Brian McHugh deals in wealth management. This article is written only to inform the reader of the power of Family Trusts, Wills and Tenancy Agreements. Before attempting any form of estate planning please contact Brian on 07763 102 534 or send him an e-mail at will_writer@hotmail.com. Should you wish to view a free video these can be seen on his web site http://www.nichewizard.co.uk

What Are Real Estate Investment Trusts?

An investment trust where a group of people invest their money in residential or commercial real estate business is called Real Estate Investment Trust (REITs). These trusts own and manage large number of mortgages and commercial properties. These trusts in fact show the best features of both stocks and a real estate.

Real estate investment trust as a company manages the operations of income generating commercial properties like warehouses, hotels, shopping centers and apartments. Though there are different varieties of properties available, many of these REITs specialize and concentrate on any one kind of properties only. Those of these which have specialization in health care are known as health care REITs. These trusts were formed in 1960 to enable large scale investments in the property sector, which can then be accessed by individual investors. The main advantage of these trusts is that they help person in selecting a share to invest in from variety of a group instead of making an investment in a single large estate or building.

These trusts are mainly classified into three categories: hybrid, equity and mortgage. The first category are those which own properties and also grant loans to owners of property. The second category consists of management and ownership of income generating properties. The mortgage investment trusts are those which provide money to owners of property by acquiring their loans and mortgage backed securities.

These investment trusts are quite different from limited partnerships in several ways. One of the major difference is in the way to report the annual information on tax to their investors.

In order to become a real estate investment trust, a company should share 90 percent or more of its taxable income among its shareholders once every year. Once the company gets qualified as REIT, it can reduce the dividends which it remits to its shareholders.

Michael has been writing articles online for 10 years. Not only does this author specialize in self development, health, and investing, you can also check out his latest website retirement investing which help people find more about wall street investing.

The Various Types of Estate Trusts

When you make the choice to begin planning the assignation of your assets for after you depart or in the event of an accident, there is no uncertainty that the question of trusts will come into play. The reason for this is because trusts allow for numerous tax breaks, asset protection and they give the trustee, the individual of your choice, total control (who may or may not be the same person as the beneficiary).

The most consistently used trust is best-known as a testamentary trust. With the conditions defined in the will, the assets will be invested into the trust after the grantor's demise. For a very long time now, this method has been the standard when it comes to disposing of assets in order to uphold their protection. It's not always the case, but one person ordinarily takes the titles of both beneficiary and trustee.

Another form of trust, known as a living trust, is made while you are still living with the assets being transferred into the trust after death. The tax benefits that follow along with utilizing living trusts makes it less difficult on the grieving family members after the grantor's demise, which is why it is promptly turning into a common method for estate planning. Estate trusts are instruments employed principally for protecting the assets of your family and providing them with financial security - and that's how they should be used. It's also an instrument to help decrease the potential tax burdens. If you wish to know the optimal way to approach building trusts, a qualified professional can assist you with this, and ensure that you reap the utmost tax benefits.

Next Up - Explore The Most Commonly Made Mistakes [http://klublok.com] When Writing A Will And How To Avoid Them at [http://klublok.com]

Power Of Attorneys, Probates And Real Estate Trusts

There are times when the Seller or Buyer to a real estate transaction may appoint someone to act on their respective behalf and even to sign agreements relating to the Contract of Purchase and Sale as their agents, thereby meeting the requirements at law that all dealings involving land or interests in land be in writing. However, it is always mandatory (in British Columbia) that the agent obtain specific instructions prior to signing any documents on behalf of the parties to a transaction. This is all the more true when a Realtor is authorized to sign on behalf of one of the parties.

The written authorization must set out the exact terms, conditions and scope under which the agent is authorized to sign. A telegram, letter or fax may be used for this purpose, but it must be received by the agent before he/she attempts to act on the Seller's or Buyer's behalf. Agents must avoid signing documents on behalf of anyone based on verbal, telephone or e-mail instructions. Furthermore, evidence of written authority granted by one party to a real estate transaction must be attached to any and all documents where the agent has signed on behalf of the party.

Powers Of Attorney

Where it is desirable or necessary to rely on a Power of Attorney, it is widely recommended that it be granted to someone in accordance with the advices of a lawyer. When a person who has been granted a Power of Attorney signs a contract involving land or an interest in land on behalf of the person granting the Power of Attorney, the correct way for the contract to be completed is as shown on the following example:

"Mary Smith grants a Power of Attorney to Ted Lee to enter into a contract for the sale of her property located at [address in full]".

Ted Lee, then, would sign both the Listing Agreement and the Contract of Purchase and Sale using the following statement:

"Mary Smith, by her attorney in fact" followed immediately by Ted Lee's signature.

Furthermore, a transfer of title executed under a Power of Attorney to be filed at the Land Title Office (in British Columbia) at the time of completion requires the Power of Attorney to be drafted in proper form. This is so, because different Power of Attorneys can be granted by one person to another. While the form of such authority may authorize a party to sign contracts and certain other documents for another party, it may not be sufficient for Land Title registration purposes. Therefore, whenever a Power of Attorney is contemplated or utilized in a trade involving real estate, the parties ought to seek the advices of legal counsel as soon as possible to ensure the form of the Power of Attorney being used is valid and is acceptable for registration. It should be also noted that the Power of Attorney may expire after a specific time or be invalid for other reasons. Therefore the advices of a legal practitioner specializing in real estate transactions are always the best venue.

Dealing With Legal Or Beneficial Owners

The person or legal entity shown as the registered owner of a real property on the Certificate of Title at the Land Title Office may not be the person or entity that signs the Contract of Purchase and Sale as Seller of that particular property. This is a relatively common occurrence in the real estate trade. For a variety of reasons one entity may appear as the registered owner, while another entity may sign the Contract of Purchase and Sale as the Seller. This may happen, for example, if the registered owner holds the subject property in trust for another entity. In this case the beneficial owner (the person for whom the property is being held in trust) may sign the contract.

If the contract is signed by the beneficial owner, there will usually be a recognition of the trust in the contract {for example, John Doe in trust for Mary Black). As well, there will be normally a covenant by the Buyer to accept a transfer from the registered owner and not the beneficial owner who signs the contract. This covenant acts as a waiver of section 6 of the Property Law Act (in British Columbia), which provides that the person who signs the contract as Seller is the person who must sign the transfer. There may be warranties or representations of the beneficial owner, of the registered owner, of both, or limited warranties and representations of each.

In other circumstances the registered owner may wish to structure the transaction as a sale of shares rather than a sale of real property. Such sale may involve the shares of the registered owner or the shares of the beneficial owner of the interest in land.

It is always advisable to deal with legal or beneficial owners after a thorough title search has been executed. For example, in a typical residential real estate transaction problems can arise when a Contract of Purchase and Sale is drafted with the Seller when, in fact, the property is legally owned by some other person or company. In this particular case the Seller may have to transfer the subject property into his or her own name to comply with section 6 of the Property Law Act (a costly transaction involving, among other things, payment of taxes), or face the possibility that the Buyer may legally refuse to complete the transaction if presented with a transfer from the Seller as shown on the contract, rather than the registered owner as shown on title.

Buying From An Estate

A Buyer purchasing from an estate must be assured that the title must pass to him or her without legal problems, and that all parties who can claim against the estate have had their opportunity to do so. If Letters Probate have been granted already and the Wills Variation Act (in British Columbia) has been complied with, no additional clause is required. If, however, these steps have not been concluded a clause similar to the one that follows should be incorporated into the Contract of Purchase and Sale:

"Subject to the Seller receiving the following by [date]:

1) copy of Letters Probate; and 2) assurance that everyone entitled to claim under the Wills Variation Act has waived or released his or her claim against the subject property". An example of a proper way for an executor to sign a contract on behalf of the estate is:

"John Smith, Executor for the estate of (name of the deceased).

In some cases there may be a delay in obtaining Letters Probate.Should that occur, the Buyer may agree to an extension to allow the Executor additional time to obtain the Letters Probate.

Luigi Frascati

Luigi Frascati is a Real Estate Agent based in Vancouver, British Columbia. He holds a Bachelor Degree in Economics and maintains a weblog entitled the Real Estate Chronicle where you can find the full collection of his articles on Real Estate Economics and Finance. Luigi is associated with the Sutton Group, the largest real estate organization in Canada, and is based with Sutton-Centre Realty in Burnaby, BC.

Luigi is very proud to be an EzineArticles Platinum Expert Author. Your rating at the footer of this Article is very much appreciated. Thank you.

Is It Honest to Use a Land Trust?

Recently I was talking to a real estate investment club owner about speaking to his club regarding land trusts (LT). He said, "we do not believe in using LT's because they are dishonest." He then went on to explain how someone had come to his club and spoke about LT's and that led him to believe that the use of a LT was for deception and taking advantage of people.

I told him that I was sorry that he had been misinformed about LT's and trusts that he should reconsider their use and benefits. So, let's review why it is important to NOT have your name in the public records as owner of property:

1. A group of people may be purchasing several properties for a special purpose and it may be that the desired result can be best accomplished if the objective is not made public.

2. Co-owners might desire that the interest of each beneficiary must be kept private.

3. An individual owner might not want to be hassled with inquires regarding the property.

4. A real estate investor might not want his competitors to copy his acquisition techniques.

5. Real estate investors do not want their tenants to know they are the owner of the property (helps with day-to-day management).

6. Co-owners want to know that a lien or judgment or divorce of one owner will not affect the title to the property

7. Out of state owners can avoid probate and other legal issues upon death-smooth transition of succession.

8. A group of Heirs can inherit a property held in a land trust with ease of management (by the director) and no need for a partnership agreement and a partnership tax return

9. Co-operative housing corporations may elect to hold title to their land and buildings in a land trust. They could then issue beneficial share to their residents in place of stock certificates-simplifying control and record keeping.

10. The Trustee signs the mortgage that gets recorded... preventing the debt from showing on the borrower's credit report.

Land Trusts have been used by American citizens for over 100 years for good reasons. There are many legitimate reasons to use a LT for privacy and asset protection. No one will protect your assets like YOU will. Learn all you can now because "old and cold" matters. Every since 9/11 it gets harder every year to be private and protect your assets. Do it now! Don't delay!

Randy is a full time real estate investor who purchased his first rental house in 1969. He has purchased over 200 houses and teaches other investors how to put their properties into Land Trusts for privacy and asset protection. Randy is a national teacher, author and mentor. Randy writes the only Land Trust Newsletter in the county and is the founder of the Land Trust University (an institution that teaches real estate investors how to set up and administer their own Land Trusts). Residing in Illinois (the granddaddy state of Land Trust Law), Randy knows more about Land Trusts and how to link them to other entities than anyone else in the America today. You can reach Randy at: http://www.realestateforprofit.com or call him at 1-866-696-7347.

If you would like a FREE written report explaining all the reasons to use a Land Trust, please contact me and I will email you this valuable information.

Pet Trusts - Why a Will is Not Enough

The well-documented case of Leona Helmsley, billionaire hotel mogul and real estate investor, has continued to be a story of interest for pet owners and estate planning attorneys alike. In addition to painting the headlines with stories of tax evasion scandals, her name has now become synonymous with the extent in which some pet owners love their pets. In Leona Helmsley's case, that love was to the tune of $12 million dollars, the money she left for her Maltese named Trouble.

However, due to some inadequate legal advice, Helmsley stated her preferences in a will, rather than securing a pet trust for her dog. The result has been a circus of legal battles and re-negotiations of Helmsley's will after her death, with a Manhattan court mandating a $10 million dollar reduction in Trouble's bequeathed funds. Meanwhile, Helmsley's dying wishes for her brother to be the caretaker of her beloved pet have gone largely ignored, and Trouble now lives in Florida with Carlekic, manager of the Helmsley Sandcastle Hotel.

These problems would have been nonexistent had Helmsley secured a pet trust. There are two different types of pet trusts;traditional and statutory,and both are a more secure way to assure that your wishes for your pet are carried out when you die. A traditional pet trust is effective in all states, and is a legally enforceable agreement. Pet trusts ensure that pet owners can leave specific instructions via a pet trust attorney concerning the care of their pet including the pet's caregiver (beneficiary), the type of care the pet should receive, and details regarding the standard of living for the pet. If the caregiver (beneficiary) does not follow the instructions, the pet owner can use a pet trust to appoint an alternate beneficiary to carry out the trust as instructed.

Another alternative, a statutory pet trust, allows the owner to leave fewer instructions, but is still more effective than a will in assuring the pet's care and well-being after the owner is no longer able to care for the pet. In California, both traditional and statutory pet trusts are legally enforceable according to the pet owner's exact instructions.

If you live in California and would like to secure the future of your pet in your estate planning, a qualified pet trust attorney will be able to guide you through the process. As in Helmsley's case, lawyers without experience in pet trust statutes for California might not be the best resource in answering the specific questions you might have about the laws in California relating to both traditional and statutory pet trusts. However, a lawyer with experience in California pet trusts will help you find the peace of mind you need in knowing that your pet will be well cared for when you can no longer take care of him or her.

Kevin Von Tungeln is the Managing Partner of TVTTrustLaw.com and Thompson Von Tungeln, P.C. Kevin practices exclusively in the areas of estate planning, probate, wills, conservatorships and trust administration. Visit http://www.TVTTrustLaw.com or call (661) 945-5868 to learn more.

Instant Cash with No fax payday loans

It is much more convenient for most of us to get the no fax payday loans. This is because most households everywhere now is equipped with a working computer or some laptop units and the internet. It is easier to find such loans online because today, more and more lending firms go online for the wide market they can access there. You might be one of those to spot these good online lending firms. You have to be cautious when choosing online lending firms to avail yourself of the payday loan. There are some firms that may siphon you of money when it comes to the time you pay back them what you'd borrowed. They could slap high interest rates on your monthly payable and this is something most of us don't really like.
If you have spent much of the monthly salary you've earned, you'll need some extra especially when there are some emergency expenses you need to pay for. The monthly payment for the loan we'd acquired earlier should be something that is affordable to us. We should know that the payday loan is in accordance with the monthly earnings we receive. It shouldn't go beyond that else we wouldn't be able to pay for these things so easily. If the loan and the interest we pay for monthly goes way above the salary we receive on a monthly basis, then you can say that the lending firm you went with is not a really good one. No fax payday loans are something that should be within the spending capacity of those who are availing themselves of it.
It is just unavoidable that there are some things that happen within a month or towards the end of the month that needs extra expenses on our end even when we are already strapped for cash. Anyone with a job can get a loan of this kind. You just have to submit all the necessary paperwork for you to get this loan approved by the firm you go to so you can receive the money quickly. You also need to get paperwork done by having them signed by all the right personnel when you want to get the money quickly. Offline, this may take time but online, it should be easier for you to get this loan directly into your bank account. It's actually quicker if you decide to get the no fax payday loans. Your only problem would then be paying back the loan you'd availed of from the online lending firm. It's easy to get an no fax payday loans. If you go to sites that offer them, you can look into the forms they have for you to complete so that it would be easier for you to get the no fax payday loans. If you go with this kind of loan, you'll definitely be able to receive the money quickly into your account.
The good thing today is that there is such a thing now as the no fax payday loans. These loans are much like the cash advances we get from our bosses. We go to lending firms both online and offline to get ourselves money using this payday loan.

Despite the convenience, speed and ease of no fax payday loans, it would still do us good if we go conservative with this type of loan as it may possibly bring us down if we don't have the resources to pay for it. no fax payday loan are indeed beneficial to us while we badly need it but it would even be more beneficial if we go the safe route with our finances.

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Important Reasons to Write a Will

Although people realize they ought to write a Will, they often set this task aside for another day. A lot of people think if they don't own valuable items there is no need to participate in estate planning strategies. The reality is everyone of legal age needs to execute a last will and testament regardless of how much or little they own.

Spending time to write a Will is perhaps the best thing you can do for your family. Accomplishing the task will not only provide peace of mind, it will also make the probate process much easier and allow beneficiaries to acquire inheritance gifts faster.

There are many ways to go about writing a Will. A lot is dependent on the value and kind of estate assets, as well as the amount of beneficiaries. People who don't own many valuable items can probably meet their needs with a basic Will. Preformatted forms are sold at office supply stores and only require filling in the blanks and adding signatures.

People that have quite a few items they want to pass along might find it better to establish a Will using legal service providers such as LegalZoom. Others prefer to hire a probate lawyer or estate planning firm.

It's always a good idea to consult with professionals to figure out the most appropriate estate planning methods. However, much of the information needed to learn about the different kinds of Wills is available via the Internet. Most people find it helpful to spend time learning the basics of estate planning before talking with an attorney.

Before sitting down to write a Will some important decisions need to be made. A personal representative has to be chosen to oversee estate settlement duties. The majority of people designate their spouse or relatives, but they can also hire a lawyer or estate planner or even a personal friend.

Personal representatives have to perform a variety of duties, so it's good to choose someone that can multi-task, as well as being good with finances. Common duties include: paying outstanding debts, securing and inventorying estate assets, filing a final tax return, and making certain heirs receive inheritance property.

Estate settlement can be a time-consuming and emotionally exhausting job, particularly when family members don't get along. It's hard enough to settle an estate while mourning a loved one, but when family disputes over inheritance erupt, the job can be overwhelming.

It's also important to determine who receives specific property. People that own titled property like cars and houses, or financial products such as retirement and investment accounts, can setup beneficiaries to keep assets out of probate.

Probate is the process used within the U.S. to settle decedent estates when assets aren't transferred to a trust. As long as a last will and testament is presented to the court, probate usually only lasts a few months. However, when there isn't a Will the estate can take several months to settle.

For most people, the most challenging part of writing a Will is deciding who receives their property. It can be beneficial to hold a family meeting and talk about items people would like to have. Some people find this method to be a bit morbid, others think it's smart planning. Only you can decide what works best.

Dying without putting final affairs in order places a huge burden on loved ones. Taking time to write a Will gives direction to those left behind and helps them take care of required duties.

Learn more about the importance of estate planning from California probate liquidator and real estate investor, Simon Volkov. He has seen first hand the challenges families face when loved ones don't take time to write a Will. Learn how to simplify the process and adequately protect estate assets at http://www.simonvolkov.com/.

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