LLC? Should I put realtor wife as member?

[Mike Landry]

I am forming an LLC for wholesaling and flipping properties in Texas. My wife will have minimal activity in it other than backing up my comps and listing properties. Should I add her as a member?

PROS

"Business meeting" tax deductions

NOT a single member LLC

She can sign things for me when I'm unavailable

CONS

She is a licensed realtor which would require disclosures to all marketing.  Don't want to get her in to trouble....not that I intend to do anything wrong.

Will buying or selling properties ever require BOTH our signatures? Or can one member typically sign for the LLC?

I"m on the fence.....Any opinions appreciated.

[David Dachtera]

@Mike Landry,

You actually want to avoid having real, human persons own your business entity(-ies) as there is only a single layer of protection between you and "piercing the veil".

Conventional wisdom is to have a trust - with you as the beneficiary, NOT the trustee - be an owner of both your LLC (long term holds) and S-Corp (cash flow, operational functions), and have the S-Corp and LLC be part owner of each other.

That way, piercing one veil just leads to another and then to an even bigger challenge. The idea is to discourage litigation by erecting multiple barriers.