Multiple Company Setup Question

[Don Ireland]

On May 1, 2016 11:19:22 AM CDT, Mike or Penny Novack <mpnovack at mtdata.com> wrote:
>On 4/30/2016 11:15 PM, Don Ireland wrote:
>> Thanks for all the thoughts everyone. After I got to thinking about
>it more, it's not like the asset (property) owned my each LLC will
>always have an up-to-date appraised value listed anyway.  So I guess
>the second issue is mostly moot.
>>
>> The asset accounts will be fluid enough that I COULD track each
>company's value to a degree but that still wouldn't be accurate without
>an accurate appraisal.  I guess it might be more of an issue if I were
>in a different type of business with assets that didn't need
>appraisals.
>Perhaps more to the point, Don, on what BASIS are the books of the
>trust 
>being kept? The books of each of the LLC's? If each LLC has a bank 
>account separate from the trust's bank account, how and when are 
>transfers between done. NORMALLY a corporation transfers profits to its
>
>owner(s) by a process where first that is formally decided (to do so as
>
>of some specified date) and then later the actual transfer occurs.
>
>Yes I do understand, the trust is the only "shareholder" and totally 
>controls these LLCs, but being able to choose the dates at which 
>transfers occur can have tax considerations. As does the possible 
>difference between "income" and "capital gains".
>
>Michael D Novack
>
>
>________________________
My question was more along the lines of looking at the child companies as assets of the parent company. Assets have value.  I was looking to have the parent company show the "net worth" of each company as an asset which would be evaluated as part of the parent's net worth. 

But as I said, the question seems to be kind of moot since the child company's net worth wouldn't be accurate without a an up-to-date appraisal on the property it owns. 
Don Ireland