Asset protection is not just for the wealthy; it is a smart strategy for anyone who owns real estate, investment properties, or wants to protect family wealth from lawsuits, creditors, probate, or unnecessary taxes.
In Illinois, three powerful tools can work together to create a layered and effective plan: an Illinois Land Trust, a Series LLC, and a Revocable Living Trust. Each serves a distinct role, and when combined, they provide privacy, control, liability protection, and long-term estate planning. At Gateville Law Firm, our Yorkville, IL estate planning attorney can help you decide whether one or more of these trusts serves your long-term interests.
What Is an Illinois Land Trust?
An Illinois Land Trust is a simple but powerful tool for holding title to real estate. While the trustee, which is typically a professional trust company, holds title to the property, you retain full control as the beneficiary. This means you decide when to sell, refinance, or lease the property.