Holding Company LLC

[Adriana Cortez]

I'm interested in setting up a holding company out of WY, with two LLCs under it in different states and build my paydex. I also want to set up an estate plan. Any recommendations on who/where I can reach out to for this? Not sure if this is a CPA, an attorney or if there's a company offering these services at a reasonable price? 

[Chris Seveney]

Quote from @Adriana Cortez:

I'm interested in setting up a holding company out of WY, with two LLCs under it in different states and build my paydex. I also want to set up an estate plan. Any recommendations on who/where I can reach out to for this? Not sure if this is a CPA, an attorney or if there's a company offering these services at a reasonable price? 

Personally I would say complete overkill. No reason to have a holding company unless you are like Walmart and run multiple companies under different entities or have a GC company, a PM company and companies for tradespeople, then maybe have a holding company. If it is strictly to hold real estate, especially residential - absolutely no need. What are you protecting yourself from? 

Honestly I can argue you do not need a LLC for residential real estate. Commercial absolutely, residential, just paying more for insurance etc and LLC costs that could be rectified with an umbrella insurance policy. 

When you ask someone what could they be sued for that is not covered under insurance or via a property manager people are quiet as church mice. Just my 2 cents and not providing legal or tax advice.