If you are the sole owner of an LLC, can you form a trust this way?
|
||||||||||||||||||||||||||||||||||||||
If you are the sole owner of an LLC, can you form a trust this way?
Can you elaborate?
You can form a trust that can own all or part of the LLC. You can form a trust, individually. The LLC can, as far as I know, be a trustee of a trust (I know nothing about your state's law). One doesn't preclude the other, but I may not be understanding what you mean.
I read the article a few days ago. I thought there were some good points and some that were a little insulting. The author made it sound like forming a trust and completing the paperwork was to difficult and risky w/o an attorneys assistance.
"Real men have always needed to know what time it is so they are at the airfield on time, pumping rounds into savages at the right time, etc. Being able to see such in the dark while light weights were comfy in bed without using a light required luminous material." -Originally Posted by ramairthree
thats because Mark Barnes is a attorney in the firearms industry, HE would LOVE for you use a attorney
I just looked at the article again. The last line talks about it not being the time to fill the tank with cheap gas. Funny I use the cheap gas in my vehicles, super is a waste of money and not required for my vehicle. The manual actually tells you regular unleaded is all the truck needs.
"Real men have always needed to know what time it is so they are at the airfield on time, pumping rounds into savages at the right time, etc. Being able to see such in the dark while light weights were comfy in bed without using a light required luminous material." -Originally Posted by ramairthree
I cant understand what the benefit of creating a trust to manage or be a member of an LLC could possibly be. I can not think of one advantage a trust has over a traditional member managed LLC.
"Real men have always needed to know what time it is so they are at the airfield on time, pumping rounds into savages at the right time, etc. Being able to see such in the dark while light weights were comfy in bed without using a light required luminous material." -Originally Posted by ramairthree
I am saying that I already have an established LLC.
In Texas, one does not have to register a trust with any government body. Nor do you have to prepare and/or file tax records.
That is not the case for an LLC in all states.
To me, that would be an advantage of a Revocable Living Trust, over an LLC. Fewer people gain knowledge of my affairs.
Bookmarks