Legal Question in Wills and Trusts in California
Living Trusts
Can a Limited Liability Co., (LLC) that owns 98% of a company be transferred into a Living Trust, when the other 2% is held as a general partnership?
Asked on 2/13/02, 2:02 pm
1 Answer from Attorneys
Re: Living Trusts
I do not see why not. LLC's are often owned by trusts. The fact that 2% is owned by a GP is not relevant. This is how "family" LLC's are usually structured. Maybe you should find a better attorney to do your legal work!? Good luck!
Answered on 2/13/02, 2:19 pm
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