Hi Mike, When you put a rental property in a trust.
Can you set up a bank account to receive payments and pay expenses or do I have to get an LLC to do this?
I don’t want the bank to ask for the paperwork and see the beneficiaries.
Land Trust is a privacy instrument and is the owner of record.
Your beneficial interest, in our language, is the owner and reports the activity on tax returns.
if you use a LLC, you must have a bank account.