LLC Include Spouse?

[Jason S]

Do I really need an attorney just set up an LLC? If so, why?

Do you include your spouse in the LLC or keep it soley in your name?

As always I appreciate all the help..

[Bill Gulley]

Hi Jason, you should use a general warranty deed of a special warranty deed to convey to the LLC. A quit claim will work but it can also cause title problems in the future. A quit claim only conveys that interest which the grantor MAY have at the time without any warranty. Using the warranty deeds will allow the title warranty and coverage to flow through to your LLC, (your LLC will not be insured for title without a new policy). On the other matter, the more people in an LLC the better as a one person LLC is seen as a propritorship, not a partnership. Be sure to maintain the minutes of your LLC, if you don't run it like a separate entity it won't work like one for you. An attorney can provide safeguards that are not contained in boilerplate forms, special provisions that will assist you in your growth, allowances for future partners and employees. Had it been drafted properly in the first place for example, you could admit birddogs that could not vote or have any managerial interest in your company, but could be seen as acting as a principal and be paid through the company, just as an example. If you do the deed yourself, be sure to use her maiden name as grantor and say also known as Sara S. and Jason S. together with Sara S. (H&W). You are married now and the property was (is) in her name, but now you have a marital interest as her husband. Remember, it takes one to buy and two to sell, one to act as a grantee and two as grantor, just to be on the safe side. Good luck, Bill