I would think this should all be handled by Will and corporate resolution. I would want to preserve a stepped up basis for the heirs. I don’t think this plan will do that.

An S Corp gives some pretty good protection and was probably formed along time ago. With an LLC it’s pretty easy to pierce the corporate veil commingling of funds, etc.. Better to just buy more liability insurance…

my other issue with an LLC is that it is too easy to change ownership. You don’t have to record a deed just sign a few forms and it’s done. Think fraud

your questions 1,2,3 are above my pay grade. There are a few around here that may be able to help…. Otherwise, think tax attorney.