Lesson 1 Land Trusts & Estate Planning
Land Trusts are especially useful in Estate Planning.
If you designate a “SUCCESSOR BENEFICIARY” the Land Trust will supersede probate (meaning the land trust does not require probate).
If the beneficiary dies, control automatically moves to the SUCCESSOR BENEFICIARY.
FYI – No matter why you choose to use land trusts, the best public answer is, “I use Land Trusts for estate planning reasons.”
This may especially important if you’re ever in court.
No one can deny a land trust’s effectiveness in transferring control immediately upon the death of the Beneficiary.
In Judicial states Land Trusts are the best answer for “Owner Financing” properties TOO.
To Get more information on how Land Trusts and Owner Financing work hand in hand: