How to structure bank accounts and business vs. personal

[Ryan Morlino]

My wife and I are in the process of filing for an LLC through an attorney before we start our rental business in a few months. I have some questions about how I should structure my bank accounts and which need to be business accounts.

In order to maximize the protection of the LLC, I'm wanting the rent collection account to be a business account in the name of the LLC. What I'm wondering is, once this money comes in, can the money be transferred to personal accounts in my name with no loss of protection? I want to have separate accounts to set money aside for income tax, property tax, maintenance, security deposits, etc. Having these as personal accounts would make it easier to manage but the main thing is I would save money on business account fees.

I guess the main thing I'm wondering is is it okay if I use personal accounts as digital envelopes for setting aside money each month so I can better plan for year-end expenses, or does everything need to be in business accounts?  I'm the kind of person that has about 10 personal checking accounts that I use for various things and I like keeping my money separated than in one big pile.