Description

Show Notes for Episode 24 of Law Days and Lattes

Title: Let’s Talk Business: 7 Reasons Your Trust Should Own Your LLC

Welcome to Law Days and Lattes!

• Host: Sidney Wheelan
• Sponsored by: The Wheelan Law Firm of Moberly, Missouri
• Episode Number: 24

Episode Overview:

In this episode, we begin a series of shorter discussions focusing on leading your business and family into a secure future. We'll explore the intentional setup of your business and affairs to ensure smooth transitions during significant life events, such as serious illness or death.

Key Topic:

7 Reasons Your Trust Should Own Your LLC

Estate Planning Efficiency:

• Streamline estate planning by passing LLC assets directly to beneficiaries without probate.

Privacy:

• Trust ownership offers a layer of privacy by listing the trust, not your name, as the owner of the LLC in public records.

Continuity:

• Ensures seamless operation of the LLC in case of your incapacity or death with the successor trustee taking over smoothly.

Asset Protection:

• Provides extra protection against creditors, varying with trust type and provisions. Consult an attorney for best trust options.

Centralized Management:

• Simplifies management of multiple LLCs and assets by consolidating under a single entity.

Customized Succession Planning:

• Allows detailed succession planning to ensure the LLC is managed and distributed per your wishes.

Flexibility:

• Offers flexibility in structuring ownership, management, and distribution to align with your goals for the LLC.

Takeaway Message:

Take control of your business and estate plan today to lead your family and business confidently into the future, knowing your affairs are set to function as intended, even in the face of disability or death.

Contact Information:

• Website: wheelanlaw.com
• For Questions: Email The Wheelan Law Firm, LLC.

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WheelanLaw.com

This podcast episode contains general information for discussion purposes only. Each case is different and must be judged on its own merits. Missouri rules generally prohibit lawyers from advertising that they specialize in particular areas of the law.  This article should not be construed to suggest such specialization. Nothing on this site should be taken as legal advice for any individual case or situation.  This information is not intended to create an attorney-client relationship, and the listening or viewing of this podcast does not constitute an attorney-client relationship.  The choice of a lawyer is an important decision and should not be based solely upon advertisements.