LLC Partners

[cybervex]

I have read that in order to be protect by charging order in an LLC, the LLC cannot be a single-member LLC.

Can a single-member LLC that I own be a partner in another LLC with myself?

Thanks in advance

[Evan]

Sure. The charging order can still go into effect. Now you're talking form over substance.

[Business Attorney]

The hangup courts have with limiting a creditor to a charging order (http://www.limitedliabilitycompanycenter.com/charging-order-protection.html) in a single member LLC (http://www.limitedliabilitycompanycenter.com/what_is_a_single_member_llc.html) is that there are no other members whose interests in the LLC need protection. As Evan said, when you and your single member LLC are the two members of another LLC, you are arguing form over substance. A court can presumably look through and still see that there are no other people ultimately interested in the LLC other than you.

[cybervex]

Ok I see your point. Is there a minimum age for a member in an LLC? Can my 2-year old twins be members?

[cybervex]

In the end these rental homes will be for their college benefit.