As the trustee, there might be legal obligations or fiduciary duties to act in the best interest of the beneficiaries of the trust.

The beneficiary must distribute the entire IRA in 10 years. 

It allows for passive investment and can be easily divided among beneficiaries after your parents pass away, helping to avoid disputes during asset distribution.This strategy helps manage long-term care costs and simplifies estate planning, ensuring a smoother transition for beneficiaries.

If the new property cannot be added to trust immediately, how do we ensure that me and my child is the beneficiary on the property in the meantime?

Use a warranty deed instead to avoid loosing your title insurance.Second look at the Garn St Germain act that will protect you from the due on sale clause when you transfer your property to a land trust that you are still the beneficiary of.

I have few properties in CA and I would like to set up a structure which provides me anonymity and reduced liability.I have set up a WY LLC and various real estate land trust where each trust will hold title to the individual real esate and the LLC will be beneficiary for all these trusts.

But now a days the title policy will read to that beneficiary and any subsequent assignee's.. and Tim I posted the state of CA disclosure document we used for multi bene loans. so you can see that.what should happen in these multi bene loans is a document that allows the sponsor to prosecute a foreclosure.. if you dont have that each bene has to agree and that is were these get sticky..  4 investor say foreclose and one says nope.. keep in mind in the mid 80s in the Bay area our loan sizes were already 200 to 500k for HML.

I intend to hold it in an LLC in the first place and then make the fractional buyers proportionate members/beneficiaries of the LLC.

I own both the LLC and beneficiary of the trust.

There are a number of jurisdictions that have similar exemptions for beneficiaries named in a trust ...however, your easiest bet would be to contact a local wills and estates attorney in your city.