Trust Ownership Of Llc

Summary

Establishing a trust to own an llc involves choosing between a revocable or irrevocable trust, drafting the trust document, creating the llc by filing articles of organization with the ohio secretary of state, and transferring ownership by listing the trust as the member. When drafting the trust document, include the trust name, trustee(s), beneficiaries, and terms. Consult with a legal professional for detailed guidance.

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Starting from scratch
Got it, starting from scratch is a great way to ensure everything is set up correctly from the beginning. Here are some steps to get you started:
- Choose the type of trust: Decide between a revocable or irrevocable trust.
- Draft the trust document: Define the terms and purpose of the trust.
- Create the LLC: File the Articles of Organization with the Ohio Secretary of State.
- Transfer ownership: Assign the LLC membership interest to the trust.
Would you like more detailed information on any of these steps?
Can I start the LLC with the trust as the owner?
Yes, you can start an LLC with the trust as the owner. Here's a brief outline:
- Draft the Trust Document: Define the terms of the trust.
- Form the LLC: File Articles of Organization with the Ohio Secretary of State.
- List the Trust as the Owner: When forming the LLC, list the trust as the member.
Do you need more details on any of these steps?
Drafting of the trust document
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To draft a trust document, you should include the following components:
- Trust name: Choose a name for the trust.
- Trustee(s): Assign who will manage the trust.
- Beneficiaries: Specify who will benefit from the trust.
- Terms: Outline the trust's terms, such as distribution of assets.
Would you like more specific guidance on any of these components?