We are named to inherent the house on my aunt and uncles living trust. The LLC is 500,000. Neither my realtor or attorney have seen this. My uncle (89 mild dementia) doesn't explain it either. My aunt passed 4 years ago and set up the trust. Anyone know the purpose of the LLC? I am the successor trustee when my uncle passes. The copy of the living trust gives no instruction on this. It just pertains to the house and other assets. HELP
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My suggestions are to first do a specific timeline on when assets & legals were done, like when 500K put into bank (& source of funds). Second go to your sec of state corporate database and see the info on the LLC and annual report findings. You also want to cross reference for the LLC and its agents being named on other entities in sec of state base & then local tax assesors database. You can likely pay a nominal fee for a download on these or you could have your attorney do this. But it's simple, you can do this.
If LLC not in good standing this is going to be another whole issue.
Then get the last 5 years of the LLC's tax filings. If there aren't any it could be intentional as LLC is waiting on a gain. People do this for raw land often. Or LLC has another issue not in good standing.
If things keep on coming back to things dead aunt or demented uncle did or didnt do but needed to, you better make sure your legal is a very experienced estate & probate attorney. 500K with no "providence of ownership" could draw in IRS & homeland security. Good luck.