I know there are a lot of folks who are using a Trust to get their Class 3 toys. I also know you can do the same with an LLC. My question is how did you decide to go with one over the other? What was/were the tipping factor(s) for you when you decided to go with the route you went?
In OHIO, we can set up an LLC for a one time fee. We register it with the state, and it has NO annual fees. Ever. Real tempting. When I grow old and wither, I just name my child a successor in the LLC, and they take over. No new taxes, just a change of the articles of incorporation. For this reason, I'm really leaning this way.
The added bonus: I don't have to engrave the lower with "rjrivero trust." I can name the LLC whatever I want to so it can "read" much better on the receiver.
I'm interested in hearing what you all have to say.
In OHIO, we can set up an LLC for a one time fee. We register it with the state, and it has NO annual fees. Ever. Real tempting. When I grow old and wither, I just name my child a successor in the LLC, and they take over. No new taxes, just a change of the articles of incorporation. For this reason, I'm really leaning this way.
The added bonus: I don't have to engrave the lower with "rjrivero trust." I can name the LLC whatever I want to so it can "read" much better on the receiver.
I'm interested in hearing what you all have to say.