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Updated over 3 years ago,
Specific LLC questions on Wyoming Holding Structure
After researching LLCs (the opinions vary as much as what kind of pizza is the best...so I don't want to rehash that), but I have decided to go with a WY holding LLC. Now, I need to create separate operating LLCs under the 3 states where I own property (WY, FL, and MO). I would need the Registered Agent, Operating Agreement, etc.
Once I set up those LLCs, how to I get them under my holding company? I understand an asset transfer and lease agreements is required ?? (will hire attorney for that). Is that all that is required?
I am purchasing a FL home using an LLC (no lending issues). Do I use a Florida LLC or the holding company as the name on the contract? As a reminder the only LLC I have set up at this point is the WY holding LLC. Intuitively, it seems I would use the Florida LLC. So what then goes under the holding company or is that just a legal entity?
Last, once the structure in completely set up, what is the best way to move my other assets? I assume they would all move into the respective LLCS (i.e Missouri properties go into MO LLC). I am looking for "best" advice. I have talked to RE attorneys, but even their answers vary and they often speak the legalese language I am not fluent in! Thanks!