If you are a property owner who wishes to set up a land trust¹, it is vital that you have a trustee managing that trust on whom you can rely. As attorneys who are bound to strict ethical rules, we understand the legal duties that a trustee owes to all beneficiaries of a trust and will always manage your real estate investments to the best of our abilities. If you are a property owner seeking to form a land trust, do not hesitate to contact the experienced lawyers at the Dickson Frohlich Phillips Burgess for trustee services.

How land trusts can be beneficial to real estate owners

There are numerous reasons why property owners may want to hold their real estate in a land trust, including some of the following:

• Keeping the sales price or value of property out of public record
• Potentially lower property taxes
• Avoiding lien claims for personal debts against the property
• Avoiding probate after the owner’s death
• Trust is liable for financing agreements
• Keep ownership of large amounts of property anonymous
• Easier negotiating of a purchase or sale
• Easier management of rental properties

Upholding the duties of the trustee position

A trustee has specific duties set out by the law. A fiduciary duty means that a trustee must pay closer attention to your trust accounts than they would to even their own personal accounts. Additionally, any investments made with the trust assets must take into account the best interests of the beneficiaries of the trust, which prevents mismanagement of assets. It is risky to entrust your valued assets with a trustee who may not meet these very important standards of care.

Contact the Dickson Frohlich Phillips Burgess for trustee services today

If you are considering setting up a land trust or already have one in place, choosing a trustee is a highly important decision. Do not risk having a trustee that violates fiduciary duties or mismanages your real estate and other trust assets. The experienced real estate trustee attorneys at the Dickson Frohlich Phillips Burgess will always uphold the legal duties of the trustee position and have your best interests in mind.

¹https://en.wikipedia.org/wiki/Land_trust