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revocable living trust as partner
Yes, and I would go one step further by stating only the trust member who
has their SSN on file with the club be the only one with any rights, voting
or otherwise, in any matter brought before the club. We just did the same
in our club. We did not include "revocable living", just the word 'trust'.

-----Original Message-----
From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Mary
Hamm
Sent: Thursday, September 15, 2016 5:03 PM
To: club_cafe@bivio.com
Subject: [club_cafe] Re: revocable living trust as partner

Our club is trying to modify the partnership agreement to include sole or
joint trustees. Our lawyer suggested that we word the new amendment to
state that only the death of the initial grantor, triggers the withdrawal.
This would be applicable to either a joint or sole revocable trust. Do you
agree? Thanks.

Marty makes a good point. You want to have wording that keeps anyone other than the actual person you have accepted into your club from becoming a member. Other people involved in a trust may not have the knowledge or motivation to participate in your club decision making the way the original member did.

If the original member passes away, you probably don't want them replaced by an outside person who would then become part of your club decision making processes.

Your attorney should be able to come up with the best wording to protect you from that scenario. I'm not sure the proposed wording you received from them does this.

Bottom line is that the more people who are involved with a single membership in a club, the more potential for complications to arise that might affect the whole club.

Everyone in the club should understand and be willing to accept the potential problems before they agree to that set up.

Laurie Frederiksen
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On Thu, Sep 15, 2016 at 10:48 PM, Marty Eckerle <bmeckerle@comcast.net> wrote:
Yes, and I would go one step further by stating only the trust member who
has their SSN on file with the club be the only one with any rights, voting
or otherwise, in any matter brought before the club. We just did the same
in our club. We did not include "revocable living", just the word 'trust'.

-----Original Message-----
From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Mary
Hamm
Sent: Thursday, September 15, 2016 5:03 PM
To: club_cafe@bivio.com
Subject: [club_cafe] Re: revocable living trust as partner

Our club is trying to modify the partnership agreement to include sole or
joint trustees. Our lawyer suggested that we word the new amendment to
state that only the death of the initial grantor, triggers the withdrawal.
This would be applicable to either a joint or sole revocable trust. Do you
agree? Thanks.