My LLC corporation, can it act as Trustee of a Trust I want to create and fund with a piece of real property.

Asked over 2 years ago - San Mateo, CA

I received my parents residence through death. I want to transfer it to my LLC (corporation) as Trustee of a Revocable Trust I created. Is the LLC eligible or have the capacity to act as trustee of a trust

Attorney answers (3)

  1. Steven Matlin Greenwood

    Contributor Level 12

    6

    Lawyers agree

    Answered . The answer to your question is yes. But I am not at all sure why you would do that. What are you trying to accomplish with that design? I think you would be well served to get very clear regarding your priorities to be set in relation to your family and the design elements necessary to meet your goals in relation to those priorities. You question suggests the need to consider the big picture before you make specific decisions that may or may not be in accord with it.

  2. Steve S Baghoomian

    Contributor Level 4

    4

    Lawyers agree

    Answered . I agree with Mr. Greenwood. I do not understand the reasoning behind this... Perhaps you can state your objectives in creating this type of arrangement. This will allow us to give you better insight, or other alternatives to achieve your goals.

  3. Frank Wei-Hong Chen

    Contributor Level 20

    1

    Lawyer agrees

    Answered . Yes you could, but without us knowing your specific objectives, no one call really advise you if such a structure would achieve your desired goals.

    Frank W. Chen is licensed to practice law in the State of California only. The information presented here is... more

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