short-term trust

Should Aircraft Owners Use Delaware Corps?

By Tracey Cheek | August 27, 2018 |

It’s not uncommon nor is it illegal for an owner to set up an LLC to hold the title to an aircraft. In general – and not only for aircraft owners – the taxing structure in Delaware is one of the most favorable for small businesses and LLCs. Delaware is known as a very entrepreneur-friendly…

Reasons to use a Short-Term Trust

By Tracey Cheek | July 23, 2018 |

There’s no reason to try to “get around” to registering an aircraft in trust. Owners sometimes think there are reasons, either financial or personal, why they shouldn’t set up a short-term trust for their newly-purchased aircraft. Let’s look at one scenario to understand the severity of what might happen: A foreign buyer needed to register…

Short-Term Trusts

By Tracey Cheek | March 13, 2018 |

When a US-registered aircraft sale is “closed,” its existing registration becomes invalid and the plane must be reregistered by its new owner. There’s a problem when a new owner does not meet the qualifications to register the aircraft in their own name. An aircraft must be registered, and we know that the FAA has stringent…