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Updated about 6 years ago,
Sole member LLC, add spouse as LLC member
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