Trustee as owner of an LLC - How?

Asked over 1 year ago - Burbank, CA

If one wishes to have a LLC owned by a trust, should the LLC operating agreement list the owner as "ABC Trust" or "John Doe, Trustee of ABC Trust"? Thank you

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  1. Michael Ross Lykken

    Contributor Level 11

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    Answered . This depends on the type of trust created. For a standard revocable living trust, the trust itself can't own property so the membership interest would be issued to the trustee as trustee of the trust.

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  2. Carmine John Giardino

    Contributor Level 14

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    Answered . Representing yourself without any previous legal background or knowledge can prove to be a challenge in some cases. It may not be possible to learn every law or detail. Often times the more complex a case is, the more legal knowledge a person needs in order to be successful. A lack of time, resources, and knowledge can be negative points of self-representation. It's better to hire a lawyer to handle this. There are a lot of excellent lawyers in your city.

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  3. Kermit M Milburn

    Contributor Level 8

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    Answered . The Operating Agreement should reflect the Trustee of the Trust and name of the Trust. You should include in the Company book a Memorandum of Trust so that in the event the Trustee changes, the other members of the LLC would be on notice of who can act as Successor Trustee.

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