Must a trust's terms expressly allow the trust (or the trustee) to own an LLC if one wishes to eventually form an LLC and designate the trust as the LLC's owner? Also, should the owner of the LLC be listed as "John Doe Trust", or "John Doe, Trustee of John Doe Trust" on the LLC formation documents?
Estate Planning Attorney
Your membership of an LLC can be assigned to a trust or the LLC can be formed with the trust as an owner.
The answer given does not imply that an attorney-client relationship has been established and your best course of action is to have legal representation in this matter.
Medicaid / Medicare Attorney
Attorney Pippen is correct. The nature of your question suggests that you are trying to put the trust together yourself. Since you didn't know the answer without asking on AVVO, I strongly urge you to seek the help of an estate planning attorney.
Attorneys Pippen and Davis are correct. You would not do surgery on yourself, so why would you try to do sophisticated estate planning on your own? Sure, you won't likely hurt yourself with the ready-made documents, but your beneficiaries could be paying lawyers for years to unwind the mistakes you make now.
Do yourself a favor and hire an experienced estate planning lawyer in California to assist you. The peace of mind will be worth ten times the price you are paying in legal fees. Good luck to you.
This information is presented as a public service. It should not be construed to be formal legal advice nor considered to be the formation of a lawyer/client relationship.
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