Trustee as owner of an LLC - How?

Asked almost 2 years 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

Attorney answers (3)

  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.

Related Topics

Small business LLCs

An LLC (limited liability company) is a business entity that has elements of both a corporation and a partnership (or sole proprietorship).

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