Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal


Real Estate Classifieds
Reviews & Feedback
Updated over 6 years ago on . Most recent reply

Is it stupid to have my name in my LLC?
My original idea was to have my Last name in the business name for the entity that would be managing my properties. The properties themselves would be in separate LLCs. My question is if this is a stupid idea. Others have told me in past forum posts that it would make it easier to "pierce the veil" in a lawsuit. From a quick read I just did I don't see how that's possible. My understanding is that that the whole purpose of an LLC is to keep things separate from myself in a financial sense. Could something so simple as having my last name on the LLC really allow someone to go after my personal assets? I am really confused on all this. Please help.
Most Popular Reply

@Brandon Handel those people are absolutely wrong. As i told you elsewhere, having your name in the LLCs name has nothing to do with "Piercing the Veil". However there are many things that could cause piercing the veil.
A great example would be your LLC is named Brandon Handel LLC. You sign documents Brandon Handel. You just pierced the veil yourself. You need to sign Brandon Handel, Member, Brandon Handel LLC. (The word "member" could be any appropriate company title) That is an entirely different issue then your name in the LLC. That mistake could cause problems regardless of the name of your LLC.