Don't Be Foolish, Protect Your Assets and This Is How with David Lanciotti and Del Denney

·46 min·4 clips

A family sells their inherited property in two weeks, avoiding a six-month probate lockup—how did they do it?

The episode begins with a housing provider tip about court-ordered payment plans and income verification for tenants in Cook County. Hosts Tom and Mark then introduce guests David Lanciotti and Del Denney from Chicago Title LandTrust Company, now rebranded as The LandTrust Company due to national expansion. The conversation defines a land trust as a legal structure where the trust holds title, but the beneficiary controls the property, primarily for privacy and asset protection. Historical uses included estate planning and shielding wealthy buyers from public attention, like Chicago Bears players or high-profile Crane's list transactions. The guests explain that land trusts help avoid probate, which can take 12-18 months and involve creditor claims, whereas trust transfers to heirs can occur within weeks. They discuss financing challenges, noting commercial lenders are more flexible than residential ones, and share how community investment corporations often require trusts. A layered strategy is recommended: placing an LLC as the beneficiary of the land trust for enhanced liability protection, making it harder for judgment creditors to attach liens. Downsides include lender pushback and added paperwork, but early involvement streamlines closings. The guests introduce the Triple Shield Protection Plan, which includes internet data scrubbing and title fraud monitoring for a few hundred dollars annually. They address retroactively moving existing properties into trusts and share business development efforts to educate consumers. The episode concludes with rapid-fire questions, including advice for new investors to prioritize education and a resource recommendation for the podcast itself.

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