Posted By: mnbsa
BO- Trust owns the LLC - 01/18/19 03:08 PM
I have been trying to find concrete guidance on this but haven't found anything yet that gives a solid answer. My scenario is:
ABC LLC opens a business account
ABC LLC is owned 100% by the Smith Family Revocable Trust.
I may be overthinking it, but would we need to put the trustees (there are 2) as the beneficial owners as trustees of the trust?
John Doe as trustee of the Smith Family Revocable Trust owning 50%
Jane Doe as trustee of the Smith Family Revocable Trust owning 50%
Or is it allowed to just have the trust listed as 100% owner?
ABC LLC opens a business account
ABC LLC is owned 100% by the Smith Family Revocable Trust.
I may be overthinking it, but would we need to put the trustees (there are 2) as the beneficial owners as trustees of the trust?
John Doe as trustee of the Smith Family Revocable Trust owning 50%
Jane Doe as trustee of the Smith Family Revocable Trust owning 50%
Or is it allowed to just have the trust listed as 100% owner?