Legal Question in Business Law in Utah
Trust or LLC
After inheriting income property, the property still remains in the Trust. Do you recomend an LLC or some other form of incorporating?
Asked on 7/11/07, 10:50 am
1 Answer from Attorneys
Randy Lish
Randy M. Lish, Attorney at Law
Re: Trust or LLC
I strongly recommend putting any investment real estate in an LLC for asset protection purposes, as a general rule. However, if the Trustor is no longer alive, and the trust is a dynasty trust, the dynasty can own the property, and you still have asset protection. I would need more information to give you a more specific recommendation on your situation.
Answered on 7/11/07, 2:31 pm
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