Revocable Living Trust for personal residence?

[Chris VanAckeren]

Good morning! I have a rental property (townhouse), i plan on buying more, but i am currently in the process of closing on a house that will be my personal residence. Should i get a revocable living trust for my personal property for anonymity? Please go easy on me, im newish to this! lol

[Joe Homs]

@Chris VanAckeren  Preparing a Living Trust will not give you privacy protection.  The Living Trust will give your heirs the ability to deal with your properties out of probate.  

If you are buying the personal residence in Cash then use a Land Trust for privacy reasons.  If not Cash, then after you close deed it over to your land trust.  The beneficiary of the land trust will be your Living Trust.  

For your Townhouse again use a land trust for privacy reasons, however the beneficiary should be an LLC for liability protection. The owner of the LLC should be your Living Trust.

(Disclosure)  This is what I do, but this is NOT legal advise.

Good Investing...