Forming an LLC in Louisiana while I live and work in Texas

[Stetson Keen]

Hi, I'm new to this, so here is the situation. 

I need to form a partnership in Louisiana for deal with a Family member, but I live in Texas. The family member already owns the house and I will renovate/manage it. Should we use an LLC or or C-Corp or what would be best?

Thanks for the help!

[Sean Morrison]

Disclaimer: I am a Louisiana attorney, but I am not your attorney. This is not legal advice, just friendly information.

Any time partners are involved, even if they are family, an agreement needs to be put in place outlining work, distributions, and what happens on sale or dissolution. And making that agreement an LLC instead of a partnership provides some asset protection to both parties. Much will depend on the purpose of the venture - is this a flip and sell, or will it be a rental? Keep in mind that in order to enjoy the protections of the LLC, the property will need to be deeded to the LLC.