Moving rental property from trust to LLC

[Horacio Gutierrez]

Hello,

1. If we had a rental property in a our revocable trust can we move into to our new LLC and will thst still be in the revocable trust?

2. Also, if a rental property is in a LLC and when we are gone how will the rental property go back to the trust to be inherent to our kids?

[Carl Fischer]

@Horacio Gutierrez

If the deed says it's in the trust it's in the trust. If the deed says it's in the LLC it's in the LLC. It will most likely cost you transfer fees at a minimum to change deeds. Each entity is formed for specific purposes to meet specific goals. Your LLC could be beneficiary of your trust or your trust can own the shares of the LLC. It sounds like you are not sure what you want or why. Talk to an estate attorney for transferance after death, talk to an asset protection attorney for liability issues and a cpa for tax considerations while you are here and after. All of these are somewhat intertwined. I would suggest you don't make all that info public in this forum. Good luck.