Sharon Ravenscroft Estate Planning Blog
Trusts Can Keep the Court out of Your Business
If you personally own interest in an LLC or corporation, and you become incapacitated or die, then the court will have to be involved to keep the business running or to distribute the business upon your death. When you as trustee of your revocable living trust is the member or the shareholder, the court does NOT have to become involved. Trust ownership is very helpful with professional corporations allowing the company to continue to receive monies for a longer time after death, than is available if the shares were owned by a person.