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The Law Office of Dionna Reynolds

Chicago Estate Planning Lawyer

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  • Home
  • About Us
    • Dionna Reynolds
    • Tanya S. Hurd Jones
    • Judith Smith Stephney
    • Javier Porcayo
  • Practice Areas
    • Estate Planning Attorney
      • Wills and Trusts Attorney
    • Real Estate Attorney – Investor
    • Real Estate Attorney- Homeowner
    • Probate and Estate Administration
    • Property Tax Appeals
    • Nonprofit and Business Formations
    • Corporate Lawyer
  • Book Online
  • Blog
    • Frequently Asked Estate Planning Questions – Volume 3
    • Frequently Asked Estate Planning Questions – Volume 2
    • Frequently Asked Estate Planning Questions – Volume 1
    • Do Not Call Registry
    • ESTATE PLANNING
    • How to Lower Your Property Taxes
    • How to Contest a Will
  • Contact Us
  • Health Care Video
  • Closing Cost Credit Video
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Blog

Latest Blog

31 January

Frequently Asked Estate Planning Questions – Volume 2

WHAT IS A LAND TRUST?

A Land Trust is a legal entity (business or organization) that takes ownership of, or agency, of a piece of property. The property owner generally hires a company to hold their property.

Some of the benefits of a Land Trust are personal anonymity which may protect against creditor attachment and lawsuits; avoidance of probate upon naming remainder beneficiaries; avoidance of co-ownership disputes, if an agreement is entered between the beneficiaries of a Land Trust; and, much more.

In contrast to a Living Trust, a Land Trust can only hold real estate. If you are interested in a form of Estate Planning that covers all of your assets another type of Trust may be best.

To learn more about Land Trusts or other forms of Estate Planning contact our office (708-981-3344) to schedule a free consultation.

Written by Javier Porcayo · Categorized: Uncategorized

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