Posts tagged partnership
How do I transfer my interest in an LLC or a partnership to my trust?

The ability to transfer one's interest in an LLC or partnership is generally governed by an operating or partnership agreement. Usually these agreement contain restrictions on the transfer or sale of an interest in the LLC or partnership; however, many agreements provide an exception where the transfer is to a family member or to a revocable living trust.

If the agreement provides for specific instructions on how to do this, the estate planning lawyer should follow them. Generally, the transfer requires no more than a simple Assignment document wherein the owner of the LLC or partnership states his or her intention to transfer the interest to his or her own revocable living trust.