We were using the assessor's website to get comps for our property taxes and I was shocked to see the number of homes owned in LLCs and trusts. This is in an area where home values are in the 7 to sometimes 8 figure range. I'd say 10-15% of the homes I saw were owned by an individual. Another probably 40% by trusts, and then the reminder by an LLC. These are all single family homes, and I know most of them are owner-occupied.
I know the general wisdom on here is that trusts are overused and often unnecessary. In general, when do LLCs and more complex planning make sense? Why an LLC and not a trust? I don't get the impression all of these folks are upsold by a trust mill.
I know the general wisdom on here is that trusts are overused and often unnecessary. In general, when do LLCs and more complex planning make sense? Why an LLC and not a trust? I don't get the impression all of these folks are upsold by a trust mill.
Statistics: Posted by NYCaviator — Fri Mar 22, 2024 9:30 am — Replies 3 — Views 154