Always appreciate the perspective you two throw down. Thank you for an enlightening half an hour. Here is my quandry:
History:
I have 11 rental properties. They each have been titled into a separate land trust. Each land trust is owned by a Child of the Child Series LLC. The Child Series LLC is owned by a Holding Company LLC which is owned by our living trust. We have 3 adult children who will inherit our assets.
Questions:
We do not intend to make our children rental landlords. None have an interest. Once the fair market value of the rentals have been ascertained, what’s the process to sell these assets? Would they first be required to be removed from the child series LLC and placed in the name of the living trust in order to sell? Does the living trust distribute the assets to our children and let them deal with titling assets into their name in order to sell?
What are some other options we should consider when selling assets that now belong to the living trust?
Thank you.