I am about to purchase membership in LLC. I personally like trusts; and I also think it is convenient if membership share as an asset will pass the probate when I die. But…. Trust paper itself seems to me sooo informal (contrary to LLC, for example, if I buy this share as an LLC). Let say, I set up another LLC and purchase this share in the name of that LLC, --- my name is on file with SOS (in the Articles). No confusion for the heirs. No grounds for ambiguity
However, if I just draw the trust and sign it in my bedroom,… I am afraid that my heirs/beneficiaries will fall into long litigation over this informal paper. Like: “That’s not his trust”, “That was not HE who signs it”, or even setting up another trust with the SAME name and come up with the hypo: NO, that’s is not the real trust, here is the real one that I am holding ….. and so on. You know how creative people might be when money is at the stake.
How to make trust distinct and univocal due to make no mistake that THIS particular trust (mine and only mine) purchased LLC share and after my death everything have to be split according to ITS terms.
Notary, of course. What else? When I sign LLC Operative Agreement as a trust how do I make clear that this is exactly my trust and nobody’s else (with the same name)?
However, if I just draw the trust and sign it in my bedroom,… I am afraid that my heirs/beneficiaries will fall into long litigation over this informal paper. Like: “That’s not his trust”, “That was not HE who signs it”, or even setting up another trust with the SAME name and come up with the hypo: NO, that’s is not the real trust, here is the real one that I am holding ….. and so on. You know how creative people might be when money is at the stake.
How to make trust distinct and univocal due to make no mistake that THIS particular trust (mine and only mine) purchased LLC share and after my death everything have to be split according to ITS terms.
Notary, of course. What else? When I sign LLC Operative Agreement as a trust how do I make clear that this is exactly my trust and nobody’s else (with the same name)?
