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I got H1B Visa and 83000 USD dollar petition amount as annual package.I am confused as this amount will be enough to survive there with wife and 7 year old daughter.My wife is working here and together we are earning 50LPA annual.We are settled here by owning house too.Confusion is my wife will not be able to work there on H4 Visa so the kind of life we are living here will not be possible there.Thoughts?Suggestions?Pros and Cons?
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Never seen trusts owned by a LLC, it’s usually LLC owned by a trust. The whole point of having a revocable trust is to avoid probate. With a property under a trust, beneficiaries can access the property if something were to happen to the owner/grantor of the trust, avoiding the probate court, which can be long and costly.
Depending on the jurisdiction, use a nominee trust over a rev trust.
But typically it is LLC at the property level, and trust above. Or nominee trust at property level, and rev trust above.
Keep in mind upcoming CTA requirements for LLCs, which will push people back into trusts more.
Thanks all, so was thinking of the following structure: WV holding LLC owning 100% of a NJ LLC which would own the rental property. And, with the CTA, it sounds like benefits of anonymity for WV LLC goes away? Would a trust be beneficial on top of the WV holding LLC to exempt beneficial owner reporting?