Posted by William Bronchick on January 29, 2002 at 09:39:59:
In theory, yes, the trust may be considered invalid if you are both trustee and beneficiary, but if you used the trust to “assume” someone else’s loan, that is not your main concern. Consider using your LLC or Corporation as beneficiary anyway.
trustee - Posted by ken
Posted by ken on January 28, 2002 at 23:42:15:
I have heard conflicting things on being your own trustee. I know it is smart to have someone else do it. If i am trustee and BI holder the trust “merges” and is invalid, is this correct? What if i am trustee and my Single member LLC is the BI holder, is that valid?