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Can an LLC be a trustee of a land trust Florida?

A land trust trustee may be an individual or a legal entity such as an LLC or corporation. In legal terms, the land trust divides property ownership between the propertys legal ownership and the propertys beneficial ownership.

Is a trust a good idea in Florida?

If your main goal is to avoid probate court, so long as you have assets that will not pass through probate then you will not need a trust. However, if you have assets that will pass through probate, the a Florida revocable living trust will be a good idea.

Can you put an LLC in a trust in Florida?

The most common way of transferring an LLC transfer to the owners heirs is through a revocable living trust. If the living trust owns the LLC interest, the trustee may transfer beneficial ownership to the designated trust beneficiaries outside of any probate proceeding.

What makes a trust valid in Florida?

Florida trust laws state that a trust is created only if: The settlor has capacity to create a trust. The settlor indicates an intent to create the trust. The trust has a definite beneficiary or is a charitable trust, a trust for the care of an animal, or a trust for a noncharitable purpose.

Can an LLC act as trustee in Florida?

A land trust trustee may be an individual or a legal entity such as an LLC or corporation. In legal terms, the land trust divides property ownership between the propertys legal ownership and the propertys beneficial ownership.

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