[WSBAPT] Putting LLC in revocable living trust?

[John J. Sullivan]

Other than the restrictions in the operating agreement it's straightforward. Consent minutes of members authorizing transfer, sign assignment of interest, trustees accept terms of operating agreement, securities representation. Make sure you know which state law governs. If there's WA real property consider REET (other states like NY have similar).

If the LLC is for some reason also an S corporation there may be additional considerations and representations. 

John Sullivan

Sent from my iPhone

> On Nov 18, 2014, at 2:42 PM, Heather Kolbly <heather at kolblylaw.com> wrote:
> 
> Hi All,
>  
> I have husband and wife clients for whom I am drafting a revocable living trust.  Husband also is a member of 2 different LLCs with his brothers, who live in other states.  He asked about possibly putting his interest in the LLCs into the trust.  I know this has been talked about before on the listserve, but I don’t recall what was said and I don’t have time to look it up.  Has anyone done this?  Is it advisable to place an LLC member’s ownership interest in the LLC his RLT?  I am thinking it is probably complicated and potentially beyond my scope of experience and skills.  Any guidance you can give on this would be appreciated.  At this point, the clients are just looking for information on the topic.
>  
> Thanks,
>  
> Heather Kolbly
>  
>  
> Heather Tobin Kolbly
> Mobile Attorney
> KOLBLY LAW FIRM, P.C.
> Mail:  704 228th Ave. NE #122, Sammamish, WA  98074
> Office:  (425) 522-4234 s Cell:  (425) 444-1888
> Heather at KolblyLaw.com
> www.KolblyLaw.com
>                            
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