Co-mingling funds: do's and dont's
I set up a parent LLC (not a series) for my properties (each have a LLC). I have a separate acct for each door. Each account has a checking and savings. the savings is for deposit escrow. If I move my rental income to the parent LLC is that considering co-mingling?
My parent LLC is set up as a management company and I am using it as the owner of the rental properties. I an thinking that using the parent to pay the bills, taxes, insurance, etc will give me another level of distance in case of a lawsuit.
I am listed as manager of all the LLC's and will pay myself from funds transferred to the parent. This will allow me to keep only a small amount of funds in the child LLC's .
Am I piercing the veil with this process? Is there a better way to do this?