Legal Question in Wills and Trusts in California

Re: Trust/LLC

Is the property in the same trust that you want to transfer your shares? Are you planning on creating a new trust to handle the LLC shares?

Normally, you can just assign the shares to the trust or have a pour over will or provision that allows all items not named in the trust to be considered part of the trust. We do this all of the time for items such as bank accounts and cars that are not normally included in a person's trust per-se, but they desire them to be treated as part of the trust. This document is called a durable power of asset management.

We would be happy to assist you in the preparation of this document. Pleae feel free to contact me if you desire our help.

If you would like to discuss this matter further in a more private forum, please feel free to contact me directly at the email address provided by LawGuru or through our firm�s website located at PasadenaEstatePlanning.com

IMPORTANT:

No attorney-client nor confidential relationship is created through this communication. You may not rely in any way on this communication, and nothing herein constitutes legal advice nor legal opinion. Your issue may be time-sensitive and may result in a loss of rights if you do not obtain an attorney immediately.

Re: Trust/LLC

Disclaimer: The materials provided below are informational and should not be relied upon as legal advice.

If the property is held by the LLC, and you and your brother each hold 50% of the membership interest in the LLC, each of you can transfer your membership interest in the LLC to your own living trust. You should immediately consult your own attorney to protect your legal rights.

Re: Trust/LLC

You may be able to fund the trust with the shares and bequest as you wish. The trust should be reviewed and an opinion given by the drafting attorney or another attorney. Contact me directly.