NC LLC- Single or Multi for Married Couple

[Steve Fitzgerald]

My wife and I bought a SFH primarily to use for STR. We’re planning on putting the property into an LLC. We have an investment mortgage on the property in our names but will do a quit claim deed once the LLC is setup. My question is about the LLC. For estate planning purposes I want the both of us to be members of he LLC. NC is not a community property state so a married couple in an LLC isn’t considered a single member like some other states. My question is if anyone in NC has found a way around this? I don’t really want to setup a multi member partnership LLC if I don’t have to because of the additional cost and paperwork. I’ve spoken to my accountant who gave me the options of a single member or multi member, but I have heard of people who have gotten around it somehow. I just don’t know how. Thoughts?

[Justin Rickson]

Just like lenders, insurance companies have different underwriting guidelines. Try another, don’t get discouraged.