Anyone Familiar with Indiana Land Trusts?

[Alan Francis]

Hello, I purchased my first buy and hold property late last year under my personal name. I'm looking to start adding more properties later this year and decided I better get a business entity established sooner than later. I met with an attorney that specializes in Business, Real Estate, and Estate Planning and his suggested structure was to utilize an Indiana (that's where the investment is located) land trust in which an LLC is the beneficiary of the trust. His reasons for suggesting this was for added privacy in the purchase (of future properties) and holding of the property since the Trust documents are private. The other major benefit is that if there was legal action against one individual property the litigation can't flow through to other properties the LLC may be a beneficiary of. It seems that this is easier and cheaper than creating new LLCs for each property which some other attorneys have advised. Anyone familiar with this structure and can comment on whether it's a good or bad idea? Sorry if this isn't clear. I'm not a legal jargon kind of guy. Thanks!!