Bank Accounts for Holding/Operating Company and LLC's Underneath

[Tanh Truong]

Greetings BP Friends!

I am currently having an attorney set up a holding company and an operating company for me. We've discussed various options like Series LLC, land trusts and even setting up LLC's out of state (Texas, Nevada, Delaware), but through his guidance we've decided that staying in Ohio would be best. In essence, the holding company will own Single Member LLC's underneath that own individual properties.

My question would be whether or not I should have a separate bank account for each LLC/property. This feels redundant, but if it's the best way to protect the assets, then so be it. Also, with the operating company, how would the transfer of funds work?

Any info/insight/experience would be greatly appreciated. Thanks in advance!