{"id":492,"date":"2012-05-17T11:14:05","date_gmt":"2012-05-17T15:14:05","guid":{"rendered":"http:\/\/www.dev.atiqbd.com\/family-llc-transfer-ownership\/"},"modified":"2012-05-17T11:14:05","modified_gmt":"2012-05-17T15:14:05","slug":"family-llc-transfer-ownership","status":"publish","type":"post","link":"https:\/\/www.standardlegal.com\/blog\/family-llc-transfer-ownership","title":{"rendered":"If I Retire from Our Family LLC, How Do I Transfer My Ownership to My Child?"},"content":{"rendered":"<p>Membership units in a Limited Liability Company (LLC) can, like stock in a corporation, be transferred from the LLC owners to others, including other current owners of the LLC.<\/p>\n<p>A Sale Agreement or Assignment Agreement can be created to document the transfer of membership units (or stock), the parties to the transfer, the price for the units or stock (if any), etc.<!--more--><\/p>\n<p>Because of the highly-custom nature of a Sale Agreement, Standard Legal does not offer such a document; see options from <a title=\"Additional legal forms options\" href=\"http:\/\/StandardLegal.com\/other-form-options.html\">other reputable legal companies here<\/a>.<\/p>\n<p>The LLC Operating Agreement should be modified to reflect any changes in ownership and the transfer of the membership units (or shares if a corporation).<\/p>\n<p>Plus, the Operating Agreement should be reviewed and possibly amended to reflect any changes that the new owners would desire to incorporate or make effective subsequent to the transfer.<\/p>\n<p>If it is easier to create a brand new Operating Agreement (instead of manually revising the original document), see the <a title=\"Standard Legal Limited Liability Company legal forms software\" href=\"https:\/\/shop.standardlegal.com\/product\/limited-liability-co-legal-forms-software\/\">LLC legal forms option available here<\/a>.<br \/>\nIf the combined process seems too difficult to manage as a &#8216;do it yourself&#8217; task, Standard Legal always recommends the use of a qualified attorney. <a title=\"Find a local attorney for FREE\" href=\"http:\/\/www.standardlegal.com\/attorney-find.html\">Find a local attorney for FREE here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Membership units in a Limited Liability Company (LLC) can, like stock in a corporation, be transferred from the LLC owners to others, including other current owners of the LLC. A Sale Agreement or Assignment Agreement can be created to document the transfer of membership units (or stock), the parties to the transfer, the price for &#8230; <a title=\"If I Retire from Our Family LLC, How Do I Transfer My Ownership to My Child?\" class=\"read-more\" href=\"https:\/\/www.standardlegal.com\/blog\/family-llc-transfer-ownership\" aria-label=\"Read more about If I Retire from Our Family LLC, How Do I Transfer My Ownership to My Child?\">Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-492","post","type-post","status-publish","format-standard","hentry","category-limited-liability-company-llc-questions"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>If I Retire from Our Family LLC, How Do I Transfer My Ownership to My Child? - Ask Standard Legal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.standardlegal.com\/blog\/family-llc-transfer-ownership\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"If I Retire from Our Family LLC, How Do I Transfer My Ownership to My Child? - Ask Standard Legal\" \/>\n<meta property=\"og:description\" content=\"Membership units in a Limited Liability Company (LLC) can, like stock in a corporation, be transferred from the LLC owners to others, including other current owners of the LLC. 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