Question about ability to pierce corporate veil with real estate held in LLC

[Brian W.]

If I buy a single family home to rent out in my name with a mortgage in my name, then quit claim the deed to my real estate LLC with the homeowners insurance for that property in both my name and the LLC's name, will this compromise the integrity of the LLC? In other words, will doing this make the LLC more vulnerable to someone being able to pierce the corporate veil?

[Jerry W.]

Brian W. I don't mean to offend anyone but most of the advice you have gotten here is bad, although Mike Neubauer gave excellent advice. I do not like to admit this but I am an attorney. First the disclaimer, not all states have the same laws and precedents when it comes to LLCs. So if your states laws are different than mine not everything I say will be correct. If your state allows an LLC to have 1 member it is legal and will provide you with liability protection the same as any other limited liability company if you follow the rules. First of course you can transfer a property you own into an LLC without it being a way to pierce the corporate veil, that is how you fund them. The big thing is to follow ALL the rules. It is a seperate legal entity. Putting money in increases your stakehold in the company. Just follow the formalities when you do it.
You do not appear to understand enough about an LLC to form one or to fund one right now. If you do not understand about funding it, how to treat funds etc, you have no business getting 10 minutes of advice here to follow it. Go to an attorney in the state where you operate and pay him to draft it, explain it, and give you directions on how to operate it. Do not waste your money forming an LLC if you do not know how to keep the corporate formalities. Hold your business meeting every year, never comingle assests follow corporate protocal to pay dividends or whatever method has been adopted to remove money. Allways sign as managing member of your LLC never just with your name, file taxes for it. The list goes on, but most importantly if you do not know the rules you will break them. Maybe some states have a law about property trusts that protect assets but most trusts provide NO protection. No trust law I know of allows you to protect yourself with a trust you form for yourself. The really affective trusts are the spendthrift trusts you form for another person. You must truly part with the money, and can never use it for yourself. Apparently LLCs in some states are fairly expensive, in my state they cost $100 to form and annual reports rarely exceed $100. Spend a little money to get it right, it is possible a large potion of your investments could hinge on it someday.