[WSBARP] Property Conveyance Question

[Jan Kelly]

Clients own real property located in Snohomish County in a Nevada revocable
trust. They want to convey it to their LLC. Trustors have 95% membership
interest in the LLC, and their daughter has 5% membership interest.

Am I making things too complicated by the following transactions? Of course
they want to avoid excise tax payments, as well as issues later with title.

1. Trustors convey property to themselves as individuals.
2. Trustors convey property to themselves and their daughter in the same
shares as represented in the Operating Agreement, gifting their daughter 5%.
3. Then from the 3 of them to the LLC.

Thank you in advance.
-- 


*Jan Kelly, JD/MBA*Attorney at Law

JK Law
PO Box 1964
Poulsbo, WA 98370
Direct Line (702) 338-6733

*Licensed in Nevada and Washington*.


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