Please Help. How to structure a land trust with the owner.

[Jack Ni]

Hi, please help me out. This is the first time I'm doing a land trust. So I have a lease option with the owner and i want to put the title in a land trust (The deed  is still under owner name because of due on sale) 

How would you go about structuring it? I was thinking about putting me as the beneficiary and the trustee for the land trust. Or should I put both name on the beneficiary with 50/50 ownership on the trust (because beneficiary need to pay the property tax, I'm not sure) ?  

What happen when he need to transfer the deed in 23 year? I can easily take out the title in the land trust and transfer the deed under my name right? (We have lease option agreement for 23 years, after I pay off the loan he would transfer me the deed to the property. ) 

Also, I would assume I would put trustee under my name? because I'm not doing a land trust for privacy reasons. it's just for protection against personal liabilities such as bankruptcy.   

The state I live in is Arkansas. If you need more info to make a judgement on this situation, please let me know. Thank you so much.