LLCs as Executors

Posted Wednesday, August 21, 2013 by John S. Palmer

Certain partnerships and LLCs are now permitted to serve as executors of decedents’ estates in Washington.

For several years now, Washington law has allowed trust companies and national banks to act as executors of decedents’ estates (the probate statutes now use the term “personal representatives” but it is synonymous with more familiar term “executor”) and guardians of incapacitated persons’ estates “upon petition of any person having a right to such appointment” or when “so appointed by will.” Professional service corporations organized pursuant to Washington law and whose shareholders are all attorneys have also been permitted to serve as personal representatives for some time now as well.

Effective July 28, 2013, RCW 11.36.010 was amended to provide that professional limited liability companies and limited liability partnerships that are also organized under Washington law and whose members or partners are all attorneys may act as personal representatives. And any nonprofit corporation may act as personal representative if the articles of incorporation or bylaws of that corporation permit it and the corporation is otherwise in compliance with all applicable provisions of the nonprofit corporation statutes.

By expanding the class of entities eligible to serve as personal representative, these changes may be somewhat helpful to individuals who want to create a Will but do not have a family member or friend to nominate to serve as personal representative of their estate.

If you have any questions or would like to schedule an appointment, please call us at (425) 455-5513, toll free at (877) 455-5513, or info@palmerlegal.com.