[WSBARP] Community property in LLC

[Chris B]

Today's discussion about community property got me thinking about an issue....

I have formed a number of Washington LLCs for a client of mine, who are resident in Washington. The LLCs are all for real estate investing and the properties held by the entities are in Washington as well.  The owners are husband and wife, so the LLCs are treated as single owner, disregarded entities.

The couple are planning a move to a non-community property state.  Once they establish residency in a new state, should we be converting the LLCs to multi-member LLCs, since they will no longer fall under the community property exception?

Please note our new website and email address as of 1/1/21.

Chris Benis
First Avenue Law Group, PLLC
321 First Avenue West, Seattle, WA  98119
206.447-1900 office - 206.447.9075 fax - www. firstavenuelaw.com

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