Posted by Robert on September 12, 2005 at 21:31:15:
Thank you kindly!
Business Ownership Entities - Posted by Robert
Posted by Robert on September 11, 2005 at 17:41:25:
Is it possible for a trust to be listed as registered owner of a business? If so, what is the best form of trust to use?
Re: Business Ownership Entities - Posted by Garrett Sutton
Posted by Garrett Sutton on September 12, 2005 at 12:12:03:
While it is possible it may not be advisable. A living trust provides no asset protection, so you won’t use one of them. An irrevocable trust provides no flexibility of ownership so you won’t use it. As well, banks have trouble listing trusts as the owners of a business. They’d rather see a corp or an LLC in there. That said, you can have a corp or LLC owned by a trust. That gives you the asset protection features of a limited liablity entity along with, for example, the probate avoidance features of a living trust. And that is the most common structure we see, a corp or LLC conducts the business and the shares of the corp or membership interests of the LLC are then owned by a living trust. Good luck, Garrett