Just an FYI. There is an urban legend or perhaps at times a scam that LLCs benefit non-mono or poly people and offer some of the protections of marriage or are helpful or required for home ownership share by more than 2 people.

LLCs exist to protect the assets of the LLC owners from personal debts. They can't be personally responsible for the LLCs debts (there are exceptions, though). Thats the protection they offer. It also allows for pass through taxation. So, the money earned or lost by the LLC (they are designed to be businesses that earn money) isn't taxed at the entity level. Money earned is paid to the owner/members who claim it on their personal tax returns. Confused as to how this helps a poly couple or triad....well it doesn't. Unless you are also running a business together.

What about buying a house? Using an LLC to buy a house can have benefits in very specific situations. Usually investment properties for rental. But it's rarely beneficial as a means to buy a primary residence. It will require a higher down payment (perhaps around 25%), you'll have fewer lending options (LLCs are considered higher risk), the terms are less favorable, you'll miss out on first home buyer incentives, and there are additional costs. You'll lose any homestead exemptions and property tax exemptions as well. Because the LLC will own the house, you'll be a tenant. You may need to have additional insurance because of that. You'll also pay capital gains tax when you sell it.

But what if three people want to buy a house. Guess what? It's almost always easier and more cost-effective to get a typical residential mortgage with three or more people's names on it than to secure financing for an LLC. Many lenders will sell a home to more than two people. It's....not a big deal. No work around is required.

Buying a house with an LLC rarely makes sense unless it's a rental property or you have a serious need to protect your privacy and obfuscate the names of the indivial owners (if you are a very famous celebrity for example). The name of the LLC will appear on public records instead of the individual names.

Forming an LLC gives no hospital visition rights, no employment protection rights, no health insurance access rights, no parental rights, no spousal support rights, or really any rights or responsibilities associated with marriage.