while i can't speak for trusts, as i haven't any and thus no practical experience and am still waiting for a return call to get information, i can talk a little about llcs.


our accountant says they are "loosey goosey" when it comes to BB.& there are many loopholes and so on and ambiguity surrounding llcs.& my folks and i (me somewhat reluctantly) are going this route instead of any type of trust at this time due to cost, expediency, and the lack of scrutiny by BB.


i have seen/read too many pieces of crap & good stuff to risk a trust setup right now without better evidence/background, etc.& i feel the llc is safer at the moment to deal with - at least it is a known quantity.& i have found that trust companies are either vague about trust details or won't provide anything concrete from which to make an educated assessment about those instruments.& at least so far.& and then there are the multitudinous scam artists who peddle sham trusts.& honestly, it is very, very difficult to tell a "real" vendor from a scam one.


i don't doubt the legitimacy of trust vehicles.& there are many to choose from that have no issues - my grandfather on my stepfather's side set one up for his kids such that his inheritors paid no taxes (the main reason to set up such things!), so i know there are legitimate vehicles out there. problem is finding a reputable trust company that is more than just words on a page (and not $10k or more!)...


one thing&i can say is set yourself up properly from the start if you can at all - changing things later can complicate matters.


my two cents...(or non-cents)...


jon