[WSBAPT] FW: Trust to protect privacy of purchase of home

[Joshua McKarcher]

I don't think this is odd at all, and if done carefully and correctly can work just fine. Title the revocable trust 1234 Main Street Trust (that gives away the address itself); appoint an independent trustee (lawyer or professional fiduciary who works on hourly basis is ideal); purchase in the name of the trust from the get-go with only trustee's name and signature on deed, REETA, real property tax statements, etc., at the fiduciary's address. The public record will show only the address and trustee's name.

For insurance, it would depend on the grantor's comfort level: ideally the policy could be in the trust's name only but rated for the resident(s) but somehow not show their names other than as additional insureds or the like. I'd want to work with an agent who knows for sure what would be required for someone to get those records, but I do not "think" any public record identifies an insured or additional insured.

If a loan is required to buy the house, it would likely need to be by private financing so that the DOT or mortgage can also still be in the trust's name only and not give away anything more than the conveyance deed already would.

Alternative or extra: have the trustee hold the property in an LLC. Two layers of protection with only the trustee's name and address on the public record, again giving away nothing.

You could have the LLC directly held by the individuals and just not associate their names to it, but I personally would not like that option if I were really going for bullet proof: I'd do the trust, or if I became concerned about a certification of trust having to name the grantors, I would use the trust and LLC approach.

Anyhow, some may have some "concerns" or "alerts" to add. But I've done this in far less severe circumstances, and it can work quite well.

Best, Josh

Joshua D. McKarcher
McKarcher Law PLLC
537 6th Street
Clarkston, WA 99403
(509) 758-3345
(509) 758-3314 (fax)
josh at mckarcherlaw.com<mailto:josh at mckarcherlaw.com>
www.mckarcherlaw.com<http://www.mckarcherlaw.com/>

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of betsy at bwattorney.com
Sent: Monday, January 23, 2023 4:55 PM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] FW: Trust to protect privacy of purchase of home


From: betsy at bwattorney.com<mailto:betsy at bwattorney.com> <betsy at bwattorney.com<mailto:betsy at bwattorney.com>>
Sent: Monday, January 23, 2023 3:54 PM
To: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>
Subject: Trust to protect privacy of purchase of home


I have a potential client who has been advised to set up a trust for the purchase of his new home in order to specifically protect him from an assailant.  He is the victim of a violent crime by a neighbor and needs to move to protect his family- he is part of the address confidentiality program, but has been advised to also set up a trust with the specific intent to prevent any paper trail leading back to him or his family from the purchase of his new home.  It sounds like more is needed than simply purchasing the property in the name of the trust.  Anyone out there who has this specific expertise?  Self-referrals welcome.  From my conversations with him, the client seems very honest and very much in need of help.

Thank you,

Betsy

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