llc question regarding bank accounts

[Justin Butterfield]

im currently buying a property and after i purchase it I will be transferring the title to my llc but the banker is telling me that I can not transfer the loan into a llc in addition to the title. They are requiring that I open have a personal bank account for this loan as I bought it in my name. Should I just transfer what I can to the llc and not worry about the actual bank account? I guessing most people just transfer title and thats it. Let me know what you think is the best way to do this and if I need to even worry about the bank account. thanks in advance 

[Mathew Spray]

The title, loan, bank account and everything else like insurance all need to be under your LLC and only your LLC (no insurance polices that list yourself and the LLC). If you have your personal name anywhere mixed in with your LLC you are leaving a door cracked open for your personal assets to be at risk, not just your LLC, should you be sued. If you used a lawyer to setup the LLC, talk with them about the risks of mixing your personal name with the LLC. Generally, if you cant move everything under your LLC, be sure to have a personal umbrella policy as a fallback in the rare chance if that was to happen. Lots of discussion about personal umbrella policies for amounts and coverage already on the forums. Talk with your insurance agent, explain your situation and what you want to be protected against should it happen.

Full disclaimer, I am not lawyer nor an insurance agent.