You have executed a living trust as a part of your estate planning. In order for your trust to continue to meet your planning goals and to avoid probate of your assets, it is critical that your assets be titled in the name of your trust. The process of transferring your assets into your trust is called “trust funding.” Transferring Partnership, Limited Liability Company, or Sole-proprietorship are funded by assignment of the interest. This product will assign an ownership interest in a partnership, limited liability company, or a sole-proprietorship.
Types of Business Ownership This Product Applies to
- Partnership – a partnership is form of business where two or more partners share business liabilities and income. Partnerships typically have a partnership agreement that outlines how the partnership will be managed, and may include restrictions on transferability of ownership. It is therefor important that you verify that there are no restrictions contained in your partnership documents restricting the change of ownership.
- Limited Liability Company – A limited liability company is a common business structure that protects the owners from the company’s liabilities. LLCs typically have an Operating Agreement that outlines how the LLC will be managed, and may include restrictions on transferability of ownership. It is therefor important that you verify that there are no restrictions contained in your partnership documents restricting the change of ownership.
- Sole-proprietorship – when you operate a business, but have not setup a formal business structure like a LLC.
Steps to Assign the Business Interests
- Purchase the Assignment of Business Interests from www.capstonelaw.net.
- Login and through our online interview to prepare the Assignment.
- Download, print and notarize the document.
After purchase you will have access to our online form that walks you through all the necessary questions to design the Assignment. After submission, you will receive an email with the document that are ready to print and notarize.