Structural Organization Information

We have three main options:

Create a Family Trust or a Limited Liability Corporation or a Not-For Profit Corporation.

==Family Trust==
A family trust would have us as the "grantors" designate a trustee to manage the assets of the trust (the cabins and property). The trust would have the rules defining the succession rules. The property would be transfered to the trust. It is revokable based on the terms defined in the Trust agreement.

Notes: I am not sure what the personal liability issues are with regard to liens, etc.

==Limited Liability Corp==
Similar though in this case we would be members, with either a designated manager or we could do it the communist way and be member managed. Requires a bit more work to put together: Register business name, create LLC, etc. Definitely has protection against liens. Taxes on income can passed through to members.

==Not-For Profit==
A Not-For Profit could be created (eg. Gordon B. Wright Preservation Society) with specific rules of board membership. Property could be assigned to the NP corp. Advantage is no taxes and no expectation of profit. Main benefit is that it would make it easier to work with other NP organizations (such various Foundations) to promote the work of Dad and support the environment in which he created his work.

*[ Alaska State Commerce web site]
*[ LLC Help Page]
*[ Alaska LLC Statutes]