You should purchase Richard Keyt’s Gold LLC package that includes a custom revocable living trust for the following reasons:
1. Confidentiality: Your Name & Address Will Not Be Shown on the Public Records of the Arizona Corporation Commission. The LLC Richard will form for you will not disclose your name or address on the public records of the Arizona Corporation Commission. Arizona Revised Statutes Section 29-3201.B requires that the public Articles of Organization of an Arizona LLC filed with the ACC contain the name and address of the members (aka owners) and the LLC’s principal address. If we form a Gold LLC for you the member (owner) of the LLC will be your revocable living trust, not you. This is why your name will not display on the ACC’s public records. For example, if your confidential trust is called the “Camelback Mountain Trust” the ACC’s public record of the LLC will show that the LLC is owned by the Camelback Mountain Trust, not you. When we form your Gold LLC the address of the trust and the LLC will be our address, not your address.
You will be the trustee and beneficiary of the trust. If you are married both you and your spouse can be co-trustees and beneficiaries so if one of you were to die the other would continue as the sole trustee and beneficiary without the need for an expensive superior court probate. The trustee administers the trust’s assets for the benefit of the beneficiary or beneficiaries. Because you are the trustee of the trust you have control over the LLC and all other assets that the trust owns.
2. On Your Death Your Assets Go to the Person or People You Want to Inherit the Assets. If you die without a will or a trust the law of your state of residence determines who inherits your assets. This is called the law of intestate succession. Your residence state’s plan for who inherits your assets may be different from who you want to inherit your assets. You need a trust in which you specify who inherits your assets and who inherits the assets if the primary beneficiary were to die before you so your state of residence can’t determine who gets your assets. The trust we create for you will designate primary future beneficiaries and secondary beneficiaries if a primary beneficiary dies before you.
Warning for Arizona Residents
The State of Arizona has a law that determines who inherits the assets of people who die without a will or a trust. This law may cause your assets to be inherited by the wrong person or people. To learn who will inherit your assets if you lack a will or trust see my article called Who Gets Your Assets If You Die without a Will or a Trust and take my short online quiz called Who Inherits Your Property. If the wrong person or people would inherit your assets the solution is for you to hire us to prepare a will or a trust that leaves your assets to the person or people you want to inherit the assets.
Examples of people who need a trust to insure their assets go to the person or people they want to get the assets:
- A person who has minor children.
- A person who has a child who should not have control over inherited assets.
- A person who does not want his or her children inherit the assets equally.
- A person who wants to disinherit a spouse or child.
- A married person who wants to leave assets to somebody other than the spouse.
- A person who wants to leave assets to a significant other.
- A person who wants to leave assets to all siblings or certain siblings if the person dies while a parent is alive.
- A person who wants to leave assets to a friend.
- A person who wants to leave assets to a charity.
3. Multiple Confidential LLCs. Your trust can own multiple Arizona entities so you get confidentiality and can keep your name and address off the ACC’s public records with respect to all the LLCs owned by your trust. To hire us to prepare the documents needed to assign ownership of an existing LLC to your trust complete our member change questionnaire.
4. Your Trust Can Own Any or All of Your Assets. Your trust can own anything you own such as your home, your bank account, your investment account and vehicles. All of the assets owned by your trust avoid probate on your death and will go to the person or people you name in the trust agreement.
5. Mental Incapacity or Death. If you were to become mentally incapacitated or die your trust names the person or people who will become the successor trustee or co-trustees of your trust and be responsible for managing the assets in your trust. This is extremely important if the heirs of your trust are minor children because Arizona law does not allow minors to own or manage assets.
6. You Get a $500 Discount if You Buy Our Gold Estate Plan. By purchasing our Gold LLC package you can save money two ways if you hire us to prepare an estate plan for you:
- If you purchase our Gold LLC package you get a $500 discount if you hire Arizona wills and trusts attorney Richard Keyt and his son Richard C. Keyt to prepare your Gold estate plan with a comprehensive 80 – 100 page revocable living trust. To learn why you need a Will and a Trust for your family read my free ebook called “Family Asset Protection.” See the contents and cost for an estate plan. Book a free office, phone or Zoom video consultation with one of the Keyts at www.keytlaw.com/calendar.
- The amended trust we will create avoids the cost to document the change of ownership of the LLC from you to the LLC. To document the change of ownership of an Arizona LLC from a person to a trust you should do the following: (i) sign an Assignment of Membership Interest Agreement by which the person transfers ownership of the LLC to the trust, (ii) file an amendment to the Articles of Organization with the Arizona Corporation Commission by which the LLC’s records deletes the person as the member and adds the trust as a member, and (iii) amend the LLC’s Operating Agreement to remove the person as a member and add the trust as a member. We charge $450 to prepare these documents, which amount includes the $60 filing fee paid to the ACC. If we form a Gold LLC your new trust will own the LLC from day one and you will not have to assign ownership to the trust after you form the LLC so you do not have to pay to transfer ownership from you to the trust.
Our Two Estate Plans
Our two estate plans described in detail below give you the option to pick the plan that is best for you. Our estate plans are:
- Silver Estate Plan: $1,997 for a single person and $2,497 for a couple. This plan does not include a revocable living trust. To purchase the Silver estate plan complete our Silver Estate Plan questionnaire.
- Gold Estate Plan: $2,997 for a single person and $3,497 for a couple. This plan includes a revocable living trust that provides that the assets in your trust pass automatically on your death (or on the death of both spouses if you are married) to an irrevocable beneficiary controlled asset protected trust created for each of your heirs and their descendants. Your heirs inherited assets in their trusts will be protected for life from their creditors, ex-spouses and bankruptcy courts. Each heir's trust is also a "dynasty trust" that creates a trust for your heirs children on the heir's death. See "A Smart Option for Transferring Wealth Through Generations: The Dynasty Trust." If you bought our Gold LLC you get a $500 discount off the price of this estate plan. To purchase the Gold estate plan complete our Gold Estate Plan questionnaire.