[WSBAPT] Trust vs. LLC for Real Property

[Jeff at bellanddavispllc.com]

LIstmates:

 

More and more I have estate planning clients insisting on creating an LLC to
"protect" their real property from creditors.  Obviously, a revocable trust
will not protect assets.  However, it seems to me, if I have a judgment
against an individual who owns all or part of an LLC, I will just levy on
their membership units and dissolve the LLC, especially if they own 100% and
then sell the real property.  As its owned by the LLC, the individual would
not have a homestead claim.  Sure, an LLC may be an easy way to transfer
real property to family members without probate, but what is the reasoning
behind these requests?

 

Jeff Davis

 

W. Jeff Davis

BELL & DAVIS PLLC

Attorneys at Law
P.O. Box 510

720 E. Washington Street, Suite 105
Sequim WA 98382
Phone: (360) 683.1129 
Fax: (360) 683.1258 
email:  <mailto:jeff at bellanddavispllc.com> jeff at bellanddavispllc.com
 <http://www.bellanddavispllc.com/> www.bellanddavispllc.com
 
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