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Updated about 6 years ago,

User Stats

17
Posts
2
Votes
GERT S.
  • Orlando, FL
2
Votes |
17
Posts

Sole member LLC, add spouse as LLC member

GERT S.
  • Orlando, FL
Posted

I went to cheap way, and formed an LLC (Florida) online without speaking to an attorney first. I know, fools rush in where angels fear to tread.

My LLC just acquired 2 condos that need a little rehab. After rehab, the condos will be rented out. This is the only business the LLC has ever done.

I am married. When I set up the LLC, I made myself the sole member, because I thought that that would give us better protection. But I was wrong.

www,alperlaw.com says: "Under current Florida law a debtor’s interest in a single member LLC provides little asset protection benefits. New LLCs designed for asset protection should include a least two members, and existing LLCs should add at least one member to restrict creditor’s rights to charging liens."

So now, I think I should add my wife as a member to the LLC asap!

Can I just go ahead and add her as a member? Will there be complications? Should I be concerned about Property Tax Reassessment or anything else? 

Any advice will be greatly appreciated.

Thanks,

Gert

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