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Is it possible to put an LLC into something similar to a living will?
The LLC can't, but membership in it can. This is not a single member LLC.If the question is whether a trust can be the owner of an LLC, the answer is, generally, yes.
I'm not sure what you are correcting. Perhaps a restatement of my earlier post is in order:The LLC can't, but membership in it can. This is not a single member LLC.
If the question is whether a trust can be the owner of an LLC, the answer is, generally, yes.
The LLC can't, but membership in it can.
As I wrote in post #3 in the thread, it absolutely is possible for a trust to own an interest in an LLC. That interest may be the sole interest or it may be one of several.
There is a way for property to be "set up" so that when the property owner dies, the property is "automatically" transferred to another person. Can something similar be "set up" with an LLC?
Specifically, transfer from the deceased member to the other 2 members.
Frankly, it would be a monumentally stupid thing to do yourself. Hire a professional. You (plural) can't afford to screw this up.Exactly right. And yes, it is unanimous among us three. Could this possibly be done online?
Exactly right. And yes, it is unanimous among us three. Could this possibly be done online?
I believe that the OP wants a DIY solution.Not sure what you mean by that. There are a few ways to handle this and, as I mentioned, the three of you should consult with an attorney. I've never heard of an online consultation, but you could probably do one by phone.
... or an entity that performs these duties w/o all three of us being together at an attorney's office as one member now resides in Florida and another member is immobile in a nursing home.I believe that the OP wants a DIY solution.
... or an entity that performs these duties w/o all three of us being together at an attorney's office as one member now resides in Florida and another member is immobile in a nursing home.
one member now resides in Florida and another member is immobile in a nursing home.
You don't have to be at an attorney's office at all. I have personally been involved in the formation of several LLC's and the parties involved never once stepped foot inside an attorney's office as part of the process.... or an entity that performs these duties w/o all three of us being together at an attorney's office as one member now resides in Florida and another member is immobile in a nursing home.
Good to know. Thanks.You don't have to be at an attorney's office at all. I have personally been involved in the formation of several LLC's and the parties involved never once stepped foot inside an attorney's office as part of the process.