Legal Question in Wills and Trusts in Minnesota

Rental property within a probate estate

I need to know if an estate, through the personal representative, can form an LLC to hold real estate in order to avoid liability. If so, what are the tax consequences once the real estate is sold and the proceeds need to be distributed out of the LLC to the beneficiaries in order to close the estate?


Asked on 2/17/09, 5:25 pm

1 Answer from Attorneys
Daniel Reiff Reiff Law Office

Re: Rental property within a probate estate

This question strikes me as very strange. Isn't there an attorney involved here to handle the probate? You should probably talk to that attorney first. As an attorney, I find it very irritating when an attorney who is not involved and only knows a snippet of facts butts in and offers an ignorant opinion. I have no desire to that to the attorney here because I assume there is one. If I'm wrong in my assumption, please let me know.

NOTE: Nothing in this e-mail should be construed as creating an attorney-client relationship.

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Answered on 2/17/09, 10:36 pm


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