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Land Trust Services
An affordable advantage for all property owners. As with trust planning in general, making arrangements now for the handling of your financial affairs can have significant future benefits. If you own real estate in the state of Illinois, a Land Trust offers a simple and inexpensive way to manage your property, with advantage both now and in the future. Benefits of Land Trust includes:
Confidentiality of ownership.Under a Land Trust in which you name Marquette Bank the trustee, we are the publicly recorded holder of your property. Unless you direct otherwise or it is required by law, your name as property owner remains confidential. This confidentiality can be a benefit in a number of situations.
Shared ownership protection.Those who share ownership in a property or who own multiple properties can avoid many complications with the establishment of a Land Trust. Your interest can be transferred by assignment without the formal requirements of a transfer of deed.
Avoidance of probate delays.Under a Land Trust Agreement, the party creating the trust can retain complete control over the property. The desired succession in ownership becomes effective only upon death. With a Land Trust, the delays and, under certain conditions, the expense of probate can be avoided.
Simplified transactions in multiple ownership situations.A Land Trust simplifies the problem of disposing of partial interest in a property. This can be advantageous when real estate is held by several people or a group of heirs or if multiple owners have a disproportionate share of the property. It also provides a convenient means of mortgaging and selling a property without having to obtain deeds from all parties involved especially if the parties are living out of state.
Talk To Your Attorney about Land Trusts
A Land Trust is a simple and affordable tool with numerous benefits for property owners. Because Land Trusts are used as an estate planning tool, we strongly urge you to discuss the legal issues, as well as the tax saving benefits, with your personal attorney.
To view, print or save a form, click the button below. All forms are in a PDF (Adobe Acrobat) format.
For more information, contact: Joyce A. Madsen, Assistant Vice President & Trust Officer (708) 460-4166 or firstname.lastname@example.org
The Trust & Investment Management Division of Marquette Bank is committed to meeting your financial goals and will work as a team with you to develop and design a sound financial plan for your future and the future of those important to you. As our client, you can be assured that your affairs are being handled by a strong institution dedicated to providing the highest quality of personal service.