<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN">
<html><body style='font-size: 10pt; font-family: Verdana,Geneva,sans-serif'>
<pre>Glen, <br /><br />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? <br /><br />Follow-up on the original question: <br /><br />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? <br /><br />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? <br /><br />Thanks,<br />Paige Buurstra<br /><br />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
> _Attorneys and Counselors at Law_
>
> _ _
>
> Parkwood Office Center
> 2370 130TH AVENUE N.E., SUITE 103
> Bellevue, Washington 98005
> Phone: 425.451.3583 Fax: 425.522.4818
>
> Email: glenn@pricefarrington.com
> Home page: www.pricefarrington.com [1]
>
> 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@lists.wsbarppt.com
> [mailto:wsbapt-bounces@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
>
> Heather@KolblyLaw.com
>
> www.KolblyLaw.com [2]
>
> 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.
>
>
>
> Links:
> ------
> [1] http://www.pricefarrington.com/
> [2] http://www.kolblylaw.com/
>
> _______________________________________________
> WSBAPT mailing list
> WSBAPT@lists.wsbarppt.com
> http://mailman.fsr.com/mailman/listinfo/wsbapt</pre>
</body></html>