Land Trust

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Who Uses Land Trusts?

As a property owner, how do you protect yourself against those who would search out individuals who have done well for themselves only to file frivolous lawsuits against them for their own financial gain?

The good news is that there is a unique estate planning tool, called a land trust, that will allow you, as a property owner, to title your property in the name of a trustee.

That trustee will then become the face of your property to the world. The beauty of a land trust is that, whether you own one or many properties, only you and the trustee will know of your ownership.

What is a Trust?

A trust is a legal contract between the settlor (the person who creates the trust and determines how it will be managed), and the trustee (who is designated to manage the trust property) whereby the settlor transfers title to his or her property to the trustee who then manages that property for the benefit of a third party referred to as the trust beneficiary.

When title to property is transferred by the settlor to the trustee it is split into two different property rights:

  1. Legal title to the property - the right to be known to the public as the owner of the property; and
  2. Equitable or beneficial title to the property - the right to use and benefit from the property.

A trust allows the settlor to transfer legal title to property to the trustee, while retaining equitable title and beneficial interest in the property and, in some cases, control over the property.

What is a Land Trust?

A land trust is a type of trust specifically designed to hold and protect real estate. A land trust is also the safest way to hold title to all types of real property.

Unlike an LLC, which involves annual fees, public disclosure, and possibly extra taxes, a land trust has no such downsides. A land trust is also private and fast to set up.

Land Trusts & Asset Protection

Land trusts began in England in the middle ages as a way to prevent seizures and taxes by the King. Does this sound familiar to you? If you have personal tax liens or judgments, an effectively executed land trust can prevent these threats from attaching to the property or equity held in the trust.

Many people consider using and an LLC or a living trust to protect their real estate from financial threats. However, both an LLC and a living trust are part of the public record and neither offers you the privacy of ownership that a land trust provides.

Why Hold Property in a Land Trust

There are a variety of reasons why you may want to hold property in a land trust, chief among these are:

  • Privacy - The primary reason to hold property in a land trust is the privacy that a land trust will afford you. Unlike when property is held in your own name, your ownership of property held in a land trust cannot be discovered simply by searching public records. This is because your name will not appear on any public document as the owner of the trust or the trust property.
  • Asset Protection - A land trust also protects the owner against liens and judgments attaching to the property due to lawsuits, compliance code violations, taxes, etc.
  • Probate Avoidance - A land trust avoids probate. In other words, when the owner dies, the real estate held in the land trust can be passed on to his or her heirs without having to go through probate, saving both time and money.
  • For The Distribution of Your Property - For some individuals, a land trust is an excellent alternative to a living trust as a way to posthumously distribute property in a manner that will avoid conflict between family members and other potential private beneficiaries.

The use of a land trust will also allow you to safely acquire new property. Furthermore, if you already have an LLC or a living trust, either (or both) can work very well in conjunction with a land trust.

Consult with an Experienced Trust and Estate Planning Attorney

Trusts are the cornerstone of estate planning, especially as it relates to asset protection. A land trust provides property owners with the added benefit of complete anonymity and privacy.

However, in order for a land trust to keep your assets secure and your ownership of property private, it needs to be drafted with the skill and expertise that only the most experienced estate planning attorneys can provide.

For more information regarding land trusts or for help drafting your own, contact a qualified trust and estate planning attorney in your area.

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Estate Planning & LLCs

Your LLC is a valuable component of an overall estate plan.  State and federal gift and estate tax exemptions are changing, and to keep your plan current an annual estate plan review is advisable. Learn more on our page about Wyoming LLCs.

Your LLC contemplates gifts of LLC units to other family members or to trusts that have been established for their benefit.  If you did not sign an annual retainer agreement, make sure you contact your attorney and/or CPA to assist you in accomplishing and properly documenting annual gifts.

Periodically an appraisal of the assets in your LLC and valuation of the LLC itself is necessary.  For gifts to be properly documented, appraisals of assets and valuations of LLC interests must be done at the time gifts are made.  Updating must also be done in the event of the death of a member.

Don't Procrastinate On Estate Planing


Elder law is vitally important and we take this responsibility seriously. We have seen the damage caused by ignoring the many nuances and pitfalls which make elder law unique. We cannot sufficiently stress the importance of choosing a competent adviser to protect your interests. Following this vain, we are proud members of the Wyoming Elder Law Counsel. This distinction sets us apart from other elder law attorneys. Elderly law often requires advance planning due to legal waiting periods before tax strategies can be fully implemented. It is best to deal with the topic sooner, rather than later, so everything is in place when you, a family member, or other loved one passes away. Passing away without a will can lead to unnecessary anguish and taxes during an already difficult time. You should always consult an attorney when creating your estate plan.

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Cloud Peak Law Group, P.C.
1309 Coffeen Ave Sheridan, WY 82801

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