[WSBAPT] Putting LLC in revocable living trust?

[Glenn Price]

Typically you would assign the LLC ownership interests to the grantor(s) of the RLT.

 

Glenn D. Price, J.D.
Price & Farrington, PLLC
Attorneys and Counselors at Law

GlennPrice227_small   WC-Member-Logo-Founding

Parkwood Office Center
2370 130th Avenue N.E., Suite 103
Bellevue, Washington 98005
Phone: 425.451.3583  Fax: 425.522.4818

Email:  <mailto:glenn at pricefarrington.com> glenn at pricefarrington.com
Home page:   www.pricefarrington.com <http://www.pricefarrington.com/> 

Estate, Tax, Retirement and Asset Protection Planning

This e-mail and any attachment is intended solely for the use of the addressee(s) and is privileged and confidential within the attorney-client privilege.  If you have received this e-mail in error, please notify the sender immediately and delete all copies of this e-mail message and any attachment. 

IRS Circular 230 provides that this message cannot be used to avoid any IRS tax penalties.

 

No trees have been killed in the sending of this message, but billions of electrons have been horribly inconvenienced.

 

 

From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Heather Kolbly
Sent: Tuesday, November 18, 2014 2:42 PM
To: 'WSBA Probate & Trust Listserv'
Subject: [WSBAPT] Putting LLC in revocable living trust?

 

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 

 <mailto:Heather at KolblyLaw.com> Heather at KolblyLaw.com

 <http://www.kolblylaw.com/> www.KolblyLaw.com

                           

CONFIDENTIALITY: This e-mail and its attachments are confidential and may be protected by attorney/client privilege, work product doctrine, or other nondisclosure protection. If you are not the intended recipient of this e-mail, please contact the sender immediately; you may not read, disclose, print, copy, store or disseminate the e-mail or any attachments or any information contained therein.

IRS CIRCULAR 230 DISCLOSURE: To ensure compliance with new requirements of the Internal Revenue Service, we inform you that, to the extent any advice relating to a Federal tax issue is contained in this communication, including any attachments, it was not written or intended to be used, and cannot be used, for the purpose of (a) avoiding any tax related penalties that may be imposed on you or any other person under the Internal Revenue Code, or (b) promoting, marketing or recommending to another person any transaction or matter addressed in this communication.

 

 

 

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20141118/df92ffb5/attachment.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.jpg
Type: image/jpeg
Size: 3491 bytes
Desc: not available
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20141118/df92ffb5/image001.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 6428 bytes
Desc: not available
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20141118/df92ffb5/image002.jpg>