Skip to content
BOL Conferences Top Gun 23
Thread Options Tools
#1900010 - 02/25/14 11:13 PM Can Two Trusts Form a Partnership?
Dolly Nugent Offline
Diamond Poster
Dolly Nugent
Joined: Nov 2000
Posts: 1,820
Southern California
I've never been asked this question. Can two trusts form a partnership? I've seen zillions of LLCs with trusts as members, but never a partnership with anything other than natural persons as partners.
Dolly Nugent
Opinions expressed are my own.

Return to Top
General Discussion
#1900017 - 02/25/14 11:41 PM Re: Can Two Trusts Form a Partnership? Dolly Nugent
Rocky P Online
Power Poster
Joined: Jun 2003
Posts: 7,511
Dolly, that would depend on 2 things - the authorities granted in the trusts and state law. I have seen partnerships with non-natural persons.
Integrity. With it, nothing else matters. Without it, nothing else matters.

Return to Top
#1900054 - 02/26/14 01:55 PM Re: Can Two Trusts Form a Partnership? Rocky P
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
Agreed. If you don't otherwise, your bank should require a written partnership agreement as well. If this was "planned" by an attorney who mentioned partnerships or other business entities in the trust and then mentioned the trusts in the partnership agreement, it's a pretty sophisticated enterprise.

If, on the other hand, it's just something that some guys slapped together, the fact that they can do it doesn't mean you must open an account for them.
In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

Return to Top