[WSBAPT] Professional Corporations & Living Trusts

[Jared E. Adams]

Greetings!  I have a physician client who is the sole owner of a lucrative
medical practice organized as a professional corporation.  He established
a revocable living trust for his estate planning.

Based on my reading of the RCWs, a living trust cannot hold the stock of a
professional service corporation or professional limited liability
company.  Correct? I am curious how others deal with funding the
professional corporate stock in the trust in these situations.

Do you simply let it go into probate?  Or, can you avoid probate and get
it to the trust at death with a TOD designation on the stock?

Thanks in advance for any guidance!

 

Jared

 

 

Jared E. Adams, JD, LL.M.

 

Condie & Adams, PLLC
611 4th Avenue, Suite A
Kirkland, WA  98033
(voice):  (425) 450-1040 
(fax):  (425) 450-1041

(email):  <mailto:jared at condieadams.com> jared at condieadams.com

(web):  <http://www.condieadams.com/> www.condieadams.com

 

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