Nominee designation as a solution ?

yogabro · #1 May 18, 2008, 04:13 AM

I have formed an LLC for investment purposes. I would like to have a few of my family members (5) participate in the investment but without becoming members of the LLC (for a variety of reasons). I would receive all of their monies and this total would be reflected as my member interest in the LLC. Then at the end of the investment period 1-2 years, I would need to distribute the monies back.
What is an effective method for them to invest through my role as an LLC member/manager ?
A nominee designation? What paperwork is involved ?
A loan structure ?

What are the tax issues involved ?



At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to: Get free answers from experts in any of our 300+ topics. Accept money for answers that you provide. Communicate privately with other members (PM). See fewer ads. Sign Up!