rj8654 0 Report post Posted February 15, 2016 Hello, I want to get started in investing but I want to make sure I have my privacy and protection in place. I read in other areas that it's good to put everything in a Land Trust and use an LLC for beneficiary and or trustee. But then further reading I read it's more difficult and expensive to do in Pennsylvania. Do you have any "details" on how I can have privacy and protection for properties I may have in PA? If so, how precisely would I set it up? I appreciate your help. Thank you,Richard Share this post Link to post Share on other sites
MichaelC 160 Report post Posted February 15, 2016 Rich, I'm not familiar with the specifics about how PA handles this. What are you running up against? Share this post Link to post Share on other sites
rj8654 0 Report post Posted February 16, 2016 I read that if the property is taken in a Land Trust then you have Capital Gains tax and you are required to disclose the beneficiary and trust agreement. Technically it isn't Land Trust but instead a Business Trust since Pa does not allow Land Trusts. In addition if the trustee or beneficiary is changed there is an additional Transfer Fee. Seems it defeats the purpose of the Privacy of a Trust if the beneficiary is disclosed. Again, I am only going my my interpretation of what I've read. Here is one of the articles I've read:http://dornish.net/a-matter-of-trust Anyone have any experience with this in Pennsylvania? Share this post Link to post Share on other sites
MichaelC 160 Report post Posted February 16, 2016 Rich, I am not in a position to offer advice on legal entities in PA, never having set one up in the state. Advice I don't like to give but I think it is best I do in this situation: contact a professional in this field and do the right thing for your needs. Share this post Link to post Share on other sites
rj8654 0 Report post Posted February 16, 2016 Thanks Michael. Ill probably have to do that. If you dont mind me asking...what do you put your properties in...your name, llc, land trust? Also when can your new book be ordered? I saw it mentioned but didnt see how to order it. Thanks again Share this post Link to post Share on other sites
MichaelC 160 Report post Posted February 16, 2016 If you dont mind me asking...what do you put your properties in...your name, llc, land trust? LLC has always met my needs for privacy and protection. Also when can your new book be ordered? I saw it mentioned but didnt see how to order it. Another member asked me this same question the other day, right here. Second to last post. Share this post Link to post Share on other sites
