Someone owning membership interest in a limited liability company (“LLC”) is considered a member of the LLC. Under Florida law, a “member” of an LLC is broadly defined as any “person.” Florida law defines “person” as an “individual, business corporation, nonprofit corporation, partnership, limited partnership, limited liability company, limited cooperative association, unincorporated nonprofit association, statutory trust, business trust, common law business trust, estate, trust, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or another legal or commercial entity.” See Florida Statute 605.0102. Because a trust is included in the definition of “person,” a trust can own membership interest of an LLC.
Although a trust can own membership interest of an LLC in Florida, that does not always mean that your trust can own membership interest of your LLC. You will need to carefully review your LLC’s Articles of Organization and Operating Agreement (if your LLC has an Operating Agreement) to make sure there is nothing that would prevent membership interest from being owned by a trust.