8 min
Season 2 Episode 39: How Land Trusts Reduce the Risk of Lawsuits with Scott Royal Smith Real Estate Nerds
-
- Investing
This session of Royal Investing opened with a quick presentation about tax implications relative to land trusts. Not all trusts are required to file taxes. Revocable trusts are the simplest to set up and have no impact on your tax filings.
The remainder of the time involved a QA session with attendees. Scott provided valuable insight on a variety of land trust questions, including:
Does a land trust need to be listed on my insurance policy and an additional insured?
How does a land trust add a layer of asset protection?
Who should sign as the trustee to maintain anonymity?
How does discovery work if a litigation attorney is considering taking a case?
Can I do anything to protect my assets if I am already involved in a lawsuit?... and more!
This session of Royal Investing opened with a quick presentation about tax implications relative to land trusts. Not all trusts are required to file taxes. Revocable trusts are the simplest to set up and have no impact on your tax filings.
The remainder of the time involved a QA session with attendees. Scott provided valuable insight on a variety of land trust questions, including:
Does a land trust need to be listed on my insurance policy and an additional insured?
How does a land trust add a layer of asset protection?
Who should sign as the trustee to maintain anonymity?
How does discovery work if a litigation attorney is considering taking a case?
Can I do anything to protect my assets if I am already involved in a lawsuit?... and more!
8 min