[WSBAPT] Probate necessary?

[Philip N. Jones]

My vote is that probate is probably not necessary, if the remaining members of the LLC agree that the shares can be transferred without probate.  I suggest that a new operating agreement could reflect the new situation, but keep in mind that you should also consider whether the decedent had any creditors.
I know that some people use a Certificate of Incumbency to reflect the current situation, without the need for a probate.
Phil Jones

Philip N. Jones |Duffy Kekel LLP
900 S.W. Fifth Ave., Suite 2500, Portland OR 97204
(503) 226-1371 (main) ) | (503) 226-3574 (fax)
(503) 853-1482 (cell)
pjones at duffykekel.com<mailto:pjones at duffykekel.com>

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Ann Manley
Sent: Tuesday, March 26, 2024 11:10 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Cc: wsbarp at lists.wsbarppt.com
Subject: [WSBAPT] Probate necessary?

Client's deceased husband made an investment in a LLC. The operating agreement reads that the two of them and a third person each have shares. Client and husband each own 10% as individuals. Investment made from community funds.

He died intestate. Short of a community property agreement, are we required to open a probate to transfer his interest to her?

Ann Manley, Esq.
The Manley Law Firm, P.S., Inc.
PO Box 16324
Seattle, WA 98116
(206)292-3064 / (206)292-3914 fax
www.manleyfirm.com<http://www.manleyfirm.com/>

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