LLC's? (Re: Wills....Re: Museums)

Eh... brainfart: If the collection were transferred to a (nonprofit?) llc, then it should be excluded from the will and from probate, making it easier to transfer or liquidate. Some people use corporations to protect their assets and to avoid having them liquidated in probate. Depends on which state the llc incorporates in I suspect, and how the llc is formed, and it's purpose, and how sharp your lawyer is, and whether or not your collection can be considered your investment in the company, et cetera. Hmmm, perhaps several people with their own private collections could form a llc and keep their collections where they are? BTW, I is not a lawyer. and this is not legal advice. 'kay? == jd Any clod can have the facts, but having an opinion is an art. -- Charles McCabe --