First responders regularly face danger. Police officers risk being violently injured, firefighters risk their lives battling flames, and paramedics are often the first on the scene of a terror attack or violent crime. Sometimes, first responders are involved in high-profile incidents that can leave them open to uncomfortable scrutiny or further danger.
One of the legal tools that can offer a degree of protection to first responders is a land trust. This is like other trusts except it is specifically designed for real estate. In this article, we will dive into the specifics of a land trust and how it can help first responders. To learn more or to set up a land trust, consult an experienced Illinois estate planning attorney.
What Is a Land Trust?
A land trust is an estate-planning tool for real estate. You can place land, titles, and mortgages in a land trust, which then assumes ownership of those assets. Because it is a revocable trust, you can continue to access the assets and make changes to the entity.