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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal>The LLC or operating agreement will have a provision that there is a restriction on the sale and transfer and that the LLC will have the right to purchase the interest for $1.00 upon death. I would suggest that lease agreements are entered into between the LLC and each member that terminates upon death (or within X amount of days upon death). <o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Upon death of the member, any devisee or beneficiary (or PR) of the member will be subject to the terms of the LLC agreement and lease. I am not sure how this can be challenged, but I am willing to know if it can and how.<o:p></o:p></p><p class=MsoNormal><span style='color:black'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:black'>Nestor Gorfinkel, Attorney at Law<o:p></o:p></span></p><p class=MsoNormal><span style='color:black'>Licensed in Washington & Florida<o:p></o:p></span></p><p class=MsoNormal><span style='color:black'>Florida Civil-Law (International) Notary<o:p></o:p></span></p><p class=MsoNormal><span style='color:black'><o:p> </o:p></span></p><p class=MsoNormal><b><span style='font-size:10.0pt;color:black'>ATTENTION - This e-mail message and any attachment to this e-mail message may contain confidential information that is legally privileged. If you are not the intended recipient, you must not review, retransmit, convert to hard copy, copy, use or disseminate this e-mail or any attachments to it. If you have received this e-mail in error, please notify us immediately by return e-mail or by telephone at the phone numbers provided herein and delete this message. Please note that if this e-mail message contains a forwarded message or is a reply to a prior message, some or all of the contents of this message or any attachments may not have been produced by the sender.<o:p></o:p></span></b></p><p class=MsoNormal><b><span style='font-size:10.0pt;color:black'><o:p> </o:p></span></b></p><p class=MsoNormal><b><span style='font-size:24.0pt;font-family:Webdings;color:#009900'>P</span></b><b><span style='font-size:24.0pt;color:#009900'> </span></b><b><span style='font-size:9.0pt;font-family:"Verdana",sans-serif;color:#009900'>Please consider the environment before printing this e-mail.</span></b><span style='font-family:"Century Schoolbook",serif;color:black'><o:p></o:p></span></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><div><div style='border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com> <b>On Behalf Of </b>Roger Hawkes<br><b>Sent:</b> Thursday, December 13, 2018 3:07 PM<br><b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br><b>Subject:</b> Re: [WSBAPT] LLC vs. Will contrary provision<o:p></o:p></p></div></div><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Please post any substantive answers.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><div><div style='border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b>From:</b> <a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a>> <b>On Behalf Of </b>Josh Grant<br><b>Sent:</b> Thursday, December 13, 2018 2:18 PM<br><b>To:</b> wsbar trust <<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>><br><b>Subject:</b> [WSBAPT] LLC vs. Will contrary provision<o:p></o:p></p></div></div><p class=MsoNormal><o:p> </o:p></p><div><div><p class=MsoNormal><span style='color:black'>I have clients who have inherited real property. They are putting it into a LLC. 4 out of 5 of the clients reside in different portions of the real property. Regarding the termination upon death provision in the LLC; they are wanting it to simply say: as each member dies, their units can not be sold except for $1.00 to the LLC and the remaining members will equally own their shares. When there is only one remaining member, that surviving member will own 100%. I have never seen this with a LLC. It would also have to preclude rights of members to sell their units to third parties.</span><span style='font-size:14.0pt;color:black'><o:p></o:p></span></p><p class=MsoNormal><span style='color:black'>I am wondering what will happen if one of them makes out a will that says “I give my units in LLC to my kids/”</span><span style='font-size:14.0pt;color:black'><o:p></o:p></span></p><p class=MsoNormal><span style='color:black'>Anyone ever do this?</span><span style='font-size:14.0pt;color:black'><o:p></o:p></span></p><p class=MsoNormal><span style='color:black'>If so any form language?</span><span style='font-size:14.0pt;color:black'><o:p></o:p></span></p><p class=MsoNormal><span style='color:black'>Any other problems besides the challenge regarding testamentary disposition?</span><span style='font-size:14.0pt;color:black'><o:p></o:p></span></p><p class=MsoNormal><span style='color:black'>Thanks</span><span style='font-size:14.0pt;color:black'><o:p></o:p></span></p><p class=MsoNormal><span style='color:black'>Josh</span><span style='font-size:14.0pt;color:black'><o:p></o:p></span></p><div><div><div><div><p class=MsoNormal><strong><span style='font-size:18.0pt;font-family:"Calibri",sans-serif;color:#004080'>Joshua F. Grant</span></strong><span style='font-size:14.0pt;color:#004080'><br></span><span style='font-size:14.0pt;color:black'><img border=0 width=207 height=43 style='width:2.1562in;height:.4479in' id="_x0000_i1025" src="cid:image001.png@01D492FB.F04AFD80" alt=advocates><br></span><span style='color:#004080'>P. O. Box 619<br>Wilbur, WA 99185<br>509 647 5578</span><span style='font-size:14.0pt;color:black'><o:p></o:p></span></p></div></div></div></div></div></div></div></body></html>