When setting up the trust, the landowner (who is both the trust grantor and the beneficiary) can specify how the land is to be managed, who has control over it, and how any income it produces is ...

Learn the 5 steps to starting a trust. Learn fees, tax implications, how trusts are managed and more. Read Benzinga’s guide to getting started with a trust.

Name as beneficiary an LLC that you’ve set up. That way, if someone sues the land trust, any potential damages will be contained to whatever the LLC owns—liability won’t spread to you ...

Leland Stanford, a railroad executive and, along with his wife, founder of Stanford University, owned the land in the 1880s for purposes of growing wine grapes, but his venture was not successful.