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A single member LLC is ideally suited for segregating a potentially “hot” asset from other assets. Examples of hot assets are small businesses, professional practices, and investment real estate such as a rental house, commercial property, or even vacant land.

A single member LLC is also very flexible when it comes to Federal taxation. It can be taxed as a disregarded entity, a C-Corporation, or an S-Corporation. The default is to be taxed as disregarded entity (sole proprietor); however, some small business will choose to be taxed as an S-Corporation as a way to manage self-employment taxes.

For estate planning, a single member LLC is used when segregating assets, management, or a place keeping entity is needed with a minimal annual cost. Since, the single member LLC can be converted at any time to a Family Limited Liability Company, a single member LLC may be initiated prior to a gifting program.



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