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Can minor children be listed as members of an LLC? And can another LLC be listed as a member?
2 ANSWERS
Bruce Givner
A minor can own an interest in an LLC through a custodianship account (or an irrevocable trust). An LLC can own an interest in an LLC.
Answered on Jan 18th, 2011 at 2:28 PM
Chapter 7 Bankruptcy Attorney serving Lisle, IL
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Mankus & Marchan, Ltd.
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A minor can be a member of an LLC, although his interest and actions would have to be represented by a guardian. Another LLC can be a member. Some States may place various limitations. Consult with a tax attorney in your State.
Answered on Jan 12th, 2011 at 1:13 PM