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Ten Estate Planning Advantages of Limited Liability Companies

7 Pages Posted: 13 Feb 2010  

Paul L. Caron

Pepperdine University - School of Law

Date Written: 1996

Abstract

In the eight years since the Service blessed the Wyoming limited liability company (LLC) statute, there has been an explosion of interest in LLCs, which are now available in 48 states and the District of Columbia (with Hawaii and Vermont the lone holdouts). See Bruce P. Ely, "The LLC Scoreboard," Tax Notes, Dec. 25, 1995, p. 1661. Although much has been written of the uses of LLCs in tax and business planning, comparatively little commentary has focused on the role of LLCs in estate planning. The LLC treatises generally devote little attention to estate planning issues, and there have only been a few estate planning articles that discuss the advantages of LLCs compared to S corporations, limited partnerships, and trusts. (A listing of these treatises and articles appears at the end of this article.) After a brief introduction, this article discusses 10 estate planning advantages of LLCs compared to the other forms of organization.

Keywords: Tax, Tax Planning, Estate Planning, Limited Liability Companies, LLCs

JEL Classification: K34

Suggested Citation

Caron, Paul L., Ten Estate Planning Advantages of Limited Liability Companies (1996). Tax Notes, Vol. 70, p. 998, 1996; University of Cincinnati Public Law Research Paper No. 10-06. Available at SSRN: https://ssrn.com/abstract=1552482

Paul L. Caron (Contact Author)

Pepperdine University - School of Law ( email )

24255 Pacific Coast Highway
Malibu, CA 90263
United States
310.506.4266 (Phone)

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