A Land Trust is a document that bypasses Probate. Which means upon your death all the beneficiary has to do is contact their attorney, or the Land Trust company itself. They will walk them through the documents that are needed to transfer the property to the beneficiary (themselves or several of them). THAT IS IT.
At that time you/they/them can choose to keep it in the Land Trust, or remove it altogether. If you remove it- the Trust Co. will close the trust, and issue a Trustee Deed which will show the beneficiary/you/they/them as the new owner. I recommend keeping it in trust to my clients, because the property stays hidden. It is a "trust number" so creditors cannot find out WHO the owner is. It is one of the most powerful ways to make sure your property goes to the person you want it to-- without any hiccups or drama.
Check to see if your particular state have Land Trusts. Many do not - so definitely research. Banks can do Land Trusts, but our law office use Chicago Title Land Trust Co., because they are national. Plus they've been around for many many decades. Whereas, banks closed during COVID- and those (bank created land trusts) -- in our state-- were sent to Chicago Title Land Trust. Check to see if your State allow homeowners to have Land Trusts, and then check to see if there is a Chicago Title Land Trust office in your area.
Good Luck, I hope this helps. Be Blessed!!
I don't practice law in Spain, or outside of IL - so I cannot tell you any additional information. Just as the name implies the Land Trust only deal with LAND=ex. Vacant land/ Home/ Building/ Property etc. It is called "Real Property".
The items in a Will are mainly "Personal Property"-- ex. clothes, cars, bank accounts, stocks, annuities, photos, etc. The Will can ALSO include the home/vacant land/real property-- the legal term is "pour over Will". HOWEVER- the Will usually has to be probated, and the home will be vulnerable to additional legal battles. Whereas, with a Land Trust- it goes to whomever is the beneficiary . That's it That's All. Many people are "penny wise, and pound foolish" and don't do Land Trusts (oftentimes they cost more than Wills). Well you can pay up front, or your heirs will pay on the back end-- with the Courts getting involved.
Don't be afraid because you remain the owner, and can change you in your lifetime without closing the Land Trust. IT IS YOUR HOME UNTIL YOUR DEATH. You can put a home with a mortgage in a Land Trust- check with your mortgage company to see if they will need any additional info.
Let me stop here- breast cancer didn't slow down my Lawyerly ramblings 🙂 LOL. Take care.