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We haven't had anyone transfer their shares to a living trust yet, but just curious why do that? Is there a tax advantage to the shareholder? I am under the impression there is not.
Thanks,
BN
Per the experts, perhaps the biggest advantage of a living trust is that it does not have to go through probate, as does a will.
http://www.pueblo.gsa.gov/cic_text/money/living-trust/livtrust.htm
Yes, most of my buildings permit it. In NY and NJ it is not as common as it is on the west coast, where it is done quite predominately.
You might want to speak to your Atty and find out about maintaining a personal guarantor, in spite of the living trust being the owner of shares of record.
~AR
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We allow living trusts...I think there is a legal name, but as I am not in the office and don't have it at my fingertips.
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