Who typically creates a Land Trust?

A land trust is typically created by a trustor, who also serves as the beneficiary. In this arrangement, the trustor is the individual or entity that establishes the trust and transfers the ownership of the property into it. This allows them to retain beneficial interest in the property while providing a layer of privacy and protection of assets.

The role of the trustor is crucial because it is their directives that determine how the property is managed and utilized within the framework of the trust. By being both the trustor and the beneficiary, the individual maintains control over the property while benefiting from the advantages that come with land trust ownership, such as avoidance of probate and potential tax benefits.

This scenario emphasizes the dual role that a trustor can occupy, highlighting the flexibility and practicality of land trusts in property management and ownership.