How can I transfer my LLC to my wife?

[Mete G.]

Hi Everybody, 

I have a holding LLC in NJ and also another LLC in PA. PA LLC is 100% owned by my holding LLC in NJ and I'm the sole member of NJ LLC.

There is no real estate in any of the LLC.

My question: How can I transfer the full ownership my holding LLC (and ultimately the PA LLC) to my wife's name so that she is 100% sole owner?

What are the steps to follow including bank account changes etc?

Would the steps be different if any of the LLCs had real estate holding already? (I'm about to purchase one)

Thanks

MG

[Louis Adimando]

@Mete G. The jersey piece can be handled through changing ownership/members via the department of state. Once you change the ownership/membership of the LLC, technically all things that the LLC "owns" will be traced back to the member(s) ie your wife.

If the PA LLC is owned by NJ LLC by name (for instance ABC LLC (NJ) as owner of PA LLC, it wouldn't matter if the PA LLC owns property or not. This is a great question though. As someone who has dealt with NJ LLC questions often you seem to be on the right track. Best of luck!