[WSBAPT] Trust vs. LLC for Real Property

[Joshua McKarcher]

It’s the converse: protecting one’s personal assets from LLC creditors or lawsuits, if LLC is maintained, insured, capitalized, and operated so as not to permit piercing the veil.

Joshua D. McKarcher
McKarcher Law PLLC
537 6th Street
Clarkston, WA 99403
(509) 758-3345
(509) 758-3314 (fax)
josh at mckarcherlaw.com
www.mckarcherlaw.com<http://www.mckarcherlaw.com/>
________________________________
From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> on behalf of Jeff at bellanddavispllc.com <Jeff at bellanddavispllc.com>
Sent: Thursday, November 21, 2024 10:35:48 AM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Trust vs. LLC for Real Property


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: jeff at bellanddavispllc.com<mailto:jeff at bellanddavispllc.com>
www.bellanddavispllc.com<http://www.bellanddavispllc.com/>

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