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1. Can the Grantor of a Trust be a Limited Liability Company?
Anonymous4 views2 answers
2. If yes then is that Trust treated differently than any other trust?
3. The LLC is controlled and managed by Members. Can the LLC appoint one of it's Managers as the Trustee for the Trust?
4. Since the Manager/Trustee does not control the LLC, will the assets in the Trust be off limits to any potential future creditors of the LLC?
5. Can children of the Members of the LLC be named as Beneficiaries of the Trust?
Thank you.
If the LLC is merely the Grantor of the trust, it would not own the trust assets and could not directly control them. Further, you would lose the asset protection benefits provided by an llc.
It sounds like what you are actually trying to do is put your LLC into trust. This will provide both asset protection and estate planning benefits. It is possible to do this, but not the way you propose. You should speak with an attorney who can explain your options to you.
Obviously there is quite a bit going on here. What you propose is to say the least very unusual. Without the underlying background (which I do not suggest you post here) no one can really advise you. I would suggest that you contact a local lawyer who is versed in Tax as well as estate planning.
