Can we name our LLC as a trustee of our trusts? Lou’s short and direct answer to this question is it depends on the state that you are in.
Watch this short video and learn more.
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Buying Without Bank Loans – over forty years and never one bank loan!!
Easy Ways to LEGALLY Raise Big Money for Your Deals
Renovations – Quick Ways to Safely Make Huge Cash Now
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How to Protect Your Deal from Someone Else Stealing it
Legally Pay ZERO Taxes on Your Real Estate Portfolio – simple structure worth thousands
Having Tenants Leave Your Property in Better Condition than When You Gave It to Them
Why Land and Personal Property Trusts are the Best Privacy and Asset Protection
Benefits of Trusts You Cannot Get With ANY Other Entity
The Due-on-Sale Clause – What it is and How to Avoid it Legally
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Carlton has a question about trusts and the question is, do you think using an RMLO would be a good, sorry, wrong person. Can we name our LLC as a trustee of our trust?
Well, Carlton, that’s a good question. It depends, is the answer. Certain States require that if an entity is going to act as a trustee, they have to register with banking and finance because they’re actually seen in the role of a typical bank that might come in and take over trust responsibilities on an estate. So, they have to be registered in some States and other States, an entity can be an trustee. However, I want you to think that one through, it’s not my favorite thing. I think it’s much better. If an individual is acting as a trustee rather than an entity. Now, I am going to be covering that in a lot more detail on Saturday.