Sharon Ravenscroft Estate Planning Blog
If you have an LLC you need a trust.
If you are a Member in an LLC, or own stock in a corporation, you need to be sure your ownership interest is titled in the name of your trust. There is no "pay on death" designation effective for Member's interest or ownership in your business so, even if the owner is your spouse, you will still need to have a probate on your death, unless ownership is titled in your trust. For married couples, if only one of you is really working the business, then your Operating Agreement or Bylaws can be amended to designate that one as the "designated Co-Trustee" to do the daily business.