LLC And Revocable Living Trust Question
Folks,
Would appreciate comments on the following plan.
I would like to Form an LLC in the state of VA.
The LLC will be dropped into a
"Revocable Living Trust".
The ultimate goal is
a) To transfer our primary residence into the LLC -
of course, will need to check with the Mortgage firm.
The primary residence might get converted to a rental
quite soon.
b) To purchase rental properties for investment
c) To sign contracts for preconstruction real estate.
Now, per the application form for an LLC, here is the
question on the registered agent.
<<<<<<<
(1) an INDIVIDUAL who is a resident of Virginia and
[ ] a member or manager of the limited liability company.
[ ] an officer or director of a corporation that is a member or manager of the limited liability company.
[ ] a general partner of a general or limited partnership that is a member or manager of the limited
liability company.
[ ] a trustee of a trust that is a member or manager of the limited liability company.
[ ] a member of the Virginia State Bar.
>>>>>>>>>>
Question : My guess is, i will need to pick
" a trustee of a trust that is a member or manager of
the LLC".
Any tips or suggestions?
Thanks
Krish
Mantis,
Thanks a bunch for the sophisticated approach.
I am still learning. I figure im at the tip of the berg.
Adios
-Krish