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Adding a Beneficiary to a LLC Account

Answered by: 
Randy Carey
Ken Golliher

Question: 
I have an individual ownership of an LLC with only one member, the owner. He wishes to add a beneficiary to the account. Is this allowed?
Answer: 

Answer by Randy Carey:It would be a matter of State law.

Answer: 

Answer by Ken Golliher:An LLC does not die, even if its sole member dies. Your customer needs an estate plan that incorporates the LLC as an asset.

First published on BankersOnline.com 2/15/10

First published on 02/15/2010

Filed under: 
Operations
Filed under operations as: 
Beneficiary
Estate
IT

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