Forming a LLC

[Charles Williams]

My business partner and I have an LLC. In the LLC we have a total of 8 properties. I have read where you shouldn't have too many properties in one LLC. I understand the reasoning is that if we are sued you only want the one asset to be in jeopardy. Does that mean we should have each property in its own LLC? I was in a meeting with my accountant today and she suggested we could start several LLC's with them reporting to our parent LLC? The way she explained it, the Parent LLC is owned by my partner and myself. Then the Parent LLC will own all the other LLC's we form. This way we could have one or a couple of properties in different LLCs to be protected liability wise, but NOT have to have a checking account for each LLC. Does anyone agree or disagree with that? Also she did advise me to run this strategy by my attorney. Any suggestions or help would be greatly appreciated. Thanks.