Can an LLC be a trustee?

January 10, 2005

SaveANickelDIY asked:


I have a single-member LLC (mainly in apartment rentals but my LLC can engage “in any legal business activity”). I also have a bunch of guys that want to invest in tax liens. Can a trust be created for the investment group (to pool the money together) and have the LLC act as the trustee?

Tax Lien Investing

Posted by admin | Filed Under Investing 

Comments

One Response to “Can an LLC be a trustee?”

  1. Tax Lien Investing on January 13th, 2005 6:40 am

    Tax Lien Fund

    You should discuss your plans with your attorney, or if you don’t have one, do yourself a favor and hire one BEFORE you begin this plan. I think a trust is a very poor choice for your business plan, and you would probably be better served by setting up either a limited partnership or a corporation. Technically, yes (depending on where you are located) a LLC can be a trustee.