Trust and LLC with a DBA?
Answer by John Burnett, BOL Guru Guru Bio
Question: Is it possible to put an LLC under an irrevocable trust, such as: Mary Snow Irrevocable Trust DBA Mary's Thrift Store LLC?
Answer: No, I think that if you review your state's laws recognizing Limited Liability Companies, you will see that they are separate legal entities. In general, no one can "do business as" an LLC. They are either an LLC or they are not. In most states, it's possible for a trust to operate a business and assume a fictitious name, but that fictitious name generally cannot suggest that the trust is a corporation or other legal entity.
BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.
Print Friendly!
Email This Article!
Discuss NOW!
