The limited liability company (LLC) is a popular business structure that offers liability protection and tax savings. Trusts are popular asset transfer vehicles that allow you to avoid probate and keep assets out of the hands of creditors if properly designed. By placing LLC membership interests in a trust, business owners can combine the two types of legal entities and enjoy the best of both worlds.
Transferring an LLC to a trust requires a bit of paperwork, and in multimember LLCs, may also require the consent of other members. But a well-planned transfer can help reduce risks, keep your business affairs out of creditor hands, and fit into your broader estate planning goals.
Benefits of Placing LLC Interests in a Trust
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Our attorneys can help you decide if transferring an LLC interest to a trust is the right move for your situation. For assistance with these and other business law or estate planning matters, contact our office today!
Legal Disclaimer – The information provided is designed for general information only and is not intended to be legal advice, nor does it create an attorney client relationship. Consult an attorney before making any legal decisions based on your individual circumstances.