[WSBAPT] Putting LLC in revocable living trust?

[paige at buurstralaw.com]

Glen, 

I'm confused about your comment because doesn't the grantor already own
the ownership interest? Did you mean to say the trustee(s) of the RLT? 

Follow-up on the original question: 

Hypothetically... if its a WA LLC w/ no LLC agreement and RCW 25.15
applies: If you assign the LLC interest of member-spouse to the trustees
(husband and wife) of the trust, haven't you assigned the interest such
that the member-spouse becomes an only economic interest holder as
trustee (under 25.15.250) and loses the rights and powers of membership
unless all of the other members approve the transfer? 

If this is true, is there a way that the members can agree that only the
original spouse-member trustee has the membership rights rather than
both spouses as trustees? 

Thanks,
Paige Buurstra

On 2014-11-18 19:35, Glenn Price wrote:
> Typically you would assign the LLC ownership interests to the
> grantor(s) of the RLT.
> 
> Glenn D. Price, J.D.
> Price & Farrington, PLLC
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> 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
> 
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> HEATHER TOBIN KOLBLY
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> MOBILE ATTORNEY 
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> KOLBLY LAW FIRM, P.C.
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