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Updated 10 months ago on . Most recent reply

User Stats

6
Posts
2
Votes
Ather Taqui
  • Investor
  • Charlotte NC
2
Votes |
6
Posts

Single vs multi-member LLC for husband/wife in non-community property state

Ather Taqui
  • Investor
  • Charlotte NC
Posted

Hi everyone

Trying to set up a LLC for our first rental property in NC. I wanted to keep it simple and form a single member LLC. Wanted to form it with both me and my wife.


From my research it appears that I cannot use the Qualified Joint Venture to form a single member LLC for husband+wife, because I live in NC which is not a community property state.

1. Should I open a multi member LLC? I would rather not due to more complexity and cost

2. Open single member LLC under myself and then put LLC interest in a trust so that my wife can gain control if something happens to me?

3. Any other options

Appreciate the advice!

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