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Updated over 1 year ago,

User Stats

9
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9
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Troy Baack
Pro Member
9
Votes |
9
Posts

Newbie with a unique financial situation

Troy Baack
Pro Member
Posted

I am new to real estate investing and have a unique situation in that I inherited a significant amount of money which is currently in a personal trust. I am trying to figure out if utilizing the trust as the funding account is advised or if I should be withdrawing the money from the account in order to make the purchase in my own name, or potentially and LLC. I understand that pulling the money out of the trust increases my personal tax liability as it is counted as income and I have about $60k that must be withdrawn regardless. I am hoping to purchase my first property by the end of the year.

  • Troy Baack
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