We are starting an 3 person LLC. Do I need my own as well?

[Shane W. Chapin]

Three of us are starting an LLC for a commercial wholesaling company that will be based out of Colorado and will be buying up and down the East Coast. All three of us are from different states. My question is, is there an advantage to creating my own LLC to join the main company LLC with? Thank in advance!

[Steve Morris]

LLCs are meant to limit recourse against assets held by LLC to just those assets. Any income into the LLC gets distributed according to the operating agreement.

As far a personal LLC, I guess, but what assets do you have if you're only getting income? I have our LLCs pay our S-Corp which has its own advantages for small groups of "employees" (like wife/myself).

AM NOT A LAWYER.  DO NOT USE THIS INFO IN RELIANCE TO MAKE A DECISION!!!