Legal Question in Wills and Trusts in Florida

Property transferable to a trust

If a person is sole owner a corporation, is CEO and 100% shareholder, can that corporation be transferred in its entirety to the trust? If so, what documentation is required? Intent is for successor trustee to continue corporate business for benefit of original settlor's relatives.


Asked on 10/19/04, 5:41 am

2 Answers from Attorneys
OCEAN BEACH ASSOCIATES OCEAN BEACH ASSOCIATES

Re: Property transferable to a trust

If you were to transfer all of the shares to the trust, then the trust would be sole share holder. Then Trust would have power of appointment as to CEO. Modification of trust assests apendix, share certificates, and minutes of corporation would need to be drafted. Call me directly at (619) 222-3504.

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Answered on 10/19/04, 12:56 pm
Scott Linden Scott H. Linden, Esq.

Re: Property transferable to a trust

Just create a trust instrument. Trandsfer of assets to the ownership of the trust is a relatively simple process. We do this for clients on a daily basis.

Please feel free to contact me directly for assistance in drafting an appropriate trust (whatever you do, don't trust the low cost "mills" online; use an attorney, me or another, but use one)

I can be reached through our firm's site www.No-Probate.com or directly at my office at 626-578-0708.

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Answered on 10/19/04, 8:09 pm


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