Stracturing your bussiness entity

2 Replies

Hi Everyone!!

I have a question regarding structuring your LLC, for example I know you can have a holding LLC for example in WY or DE so you are protecting your personal entity, and than you can have as many LLC as you want in different states you are doing business. But for example, I have a property on my name and after it is paid off I want to add it to one of my LLC lets say my property is in Florida so I create an WY or DE LLC and than an LLC in Florida that is owned 100% by one from WY or DE, so now I want to transfer property from my name to LLC in Florida to proptect my investment and my self, how to do that and is it going to be protected, same way as would just purchase property right the way through LLC?!

You basically pay an attorney to do the transfer from your personal name to the business name, which would add the level of protection you are looking for.  Depending on your financing, you may not even need to wait until it is paid off to do this transfer.  Further levels of nested LLCs in multiple states are expensive unless you have a particular reason to do so.  In either case, seek legal counsel as well as that of a good tax accounted, who is going to love you.

Hello Alexandr, You will want to make sure that you have a good attorney and accountant on your team. Someone that is experienced and has knowledge of the different states you are working in. I am not sure what part of Florida you are in but I work with 2 great real estate attorney's in Sarasota.

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