The Confidential LLC
The reason people buy our Gold LLC is because they do not want their name or address to show on the public records of the Arizona Corporation Commission. All Arizona LLCs must state the name(s) and address(es) of the owners/members in the LLC’s Articles of Organization filed with the ACC. The owner/member of our Gold LLC is a confidential revocable living trust we create and the trust’s address in the Articles is 7373 E. Doubletree Ranch Road, Suite 165, Scottsdale, AZ 85258. The trust agreement avoids probate because it designates who inherits the LLC and any other assets owned by the trust if the trust’s beneficiary or beneficiaries were to die.
We prepare a revocable living trust that will be the member/owner of the LLC. The trustee and beneficiary of the trust is the person who would be the member if there were no trust. When a married couple hires us and they want to own their interest in the company as community property then both spouses are trustees and beneficiaries. Each trustee has total control of the LLC or the membership interest in the LLC if there are other members.
The Articles of Organization will state that the member and manager is the trust. For example, if the name of the trust is the Camelback Mountain Trust, the Articles of Organization will state that the member and manager is the Camelback Mountain Trust and the trust’s address is c/o KEYTLaw, LLC, 7373 E. Doubletree Ranch Road, Suite 165, Scottsdale, AZ 85258. This keeps the name and address of the person or people off the public records of the Arizona Corporation Commission.
The Gold LLC comes with one revocable living trust. If the LLC will have more than one member that wants confidentiality and wants a trust, we charge an additional $297 for each additional trust.
Benefits of the Revocable Living Trust
Here are the major benefits of the trust we create for you:
- The trust is revocable, which means you can amend or terminate the trust at any time unless you are mentally incapacitated or deceased.
- The trust agreement names who will inherit the LLC and all other assets owned by the trust if the sole beneficiary were to die or if both beneficiaries die when there are two beneficiaries.
- The trust agreement can have alternative future beneficiaries in case a beneficiary were to die. For example, the trust could say everything goes equally to my son and daughter, but if either dies before me or us then the share that would have gone to the deceased child will go to my brother Robert, but if he is deceased then to the Salvation Army.
- The trust can own other assets in addition to the LLC. It can own anything. The advantage of having the trust own other assets is that you can insure that all the assets owned by the trust will pass on the death of the beneficiary or both beneficiaries to the heirs that you name in the trust agreement.
- On the death of a sole beneficiary or the death of the surviving beneficiary if a married couple are both beneficiaries all assets owned by the trust pass to the designated future beneficiary or beneficiaries automatically with the need for an expensive, time consuming and public superior court probate proceeding.
- You can name a first successor trustee or co-trustees and an alternate second successor trustee or co-trustees to take control of trust assets if you were to die or become mentally incapacitated or if both you and your spouse were to become mentally incapacitated or die.
- If your future beneficiaries are minors your successor trustee or co-trustees could manage the assets in the trust until the children become adults.