Illinois Land Trust Attorney in Chicago
An Illinois land trust is a unique estate planning and asset protection tool that allows you to hold real estate in the name of a trustee — typically a trust company or attorney — while you retain full beneficial interest and control as the beneficiary. Attorney Brian Tierney creates and administers Illinois land trusts for property owners throughout the Chicago area and Northern Illinois.
Privacy Protection for Chicago Property Owners
One of the primary benefits of an Illinois land trust is privacy. When property is held in a land trust, the trustee's name appears on the deed and in public records — not yours. This means that your ownership interest is not visible to the general public, potential litigants, or anyone searching Cook County property records. For Chicago property owners who value discretion or want to avoid being targeted by frivolous lawsuits, this privacy is invaluable.
Simplified Property Transfers & Estate Planning
Land trusts simplify property transfers significantly. Instead of recording a new deed — which involves transfer taxes, title searches, and recording fees — beneficial interest in a land trust can be transferred through a simple assignment document. This makes land trusts particularly useful for estate planning, as the beneficial interest can pass to heirs without the need for probate or a new deed.
Asset Protection for Chicago Real Estate Investors
For real estate investors with multiple Chicago-area properties, land trusts offer additional benefits. Each property can be held in a separate land trust, isolating the liability associated with each property. Attorney Tierney often recommends combining land trusts with LLCs for maximum asset protection — the land trust provides privacy while the LLC provides liability protection.
How Attorney Brian Tierney Helps with Land Trusts
Brian handles every aspect of land trust formation: trust agreement drafting, trustee selection, deed preparation, recording with the Cook County recorder, and ongoing administration. Whether you own a single home on Chicago's South Side or a portfolio of investment properties across Northern Illinois, Brian structures your land trust arrangement to achieve your specific goals. Contact Attorney Tierney today for a free consultation about Illinois land trusts.