Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
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

User Stats

52
Posts
27
Votes
Brandon Handel
  • Fort Wayne IN, USA
27
Votes |
52
Posts

Is it stupid to have my name in my LLC?

Brandon Handel
  • Fort Wayne IN, USA
Posted

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

User Stats

16,433
Posts
12,718
Votes
Ned Carey
  • Investor
  • Baltimore, MD
12,718
Votes |
16,433
Posts
Ned Carey
  • Investor
  • Baltimore, MD
ModeratorReplied

@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.

  • Ned Carey
  • Loading replies...