LLC

LLC has 11 members. Can the legal vote be decided by majority of those who voted or must it be a majority of members ?

Is an attorney needed to transfer LLC shares -- if so why?

Can I sell subscriptions to my LLC to the general public?

Can a Washington State single member LLC transfer half the shares to his spouse so that they both can make IRA contributions? (Under a single member LLC one can make contributions to a SEP IRA, and IRS filing is easy). My tax adviser writes, 'I might suggest would be to transfer half of your US LLC shares to your wife and then she would report half the income. Then, you could both contribute to a self employed 401 K and this would achieve a higher overall contribution to a retirement plan than the $40 K you are limited to for 2009. You might discuss this with your investment adviser: could both of you contribute to a 401 K even if you jointly own the LLC? Is this true? What are the precise benefits? I assume that it would no longer be a single member LLC. If indeed possible as suggested, is there any downside? Personal info: Married, filing jointly, 2009 combined income est. $306 K, LLC income is $200 K (thus the potential $40 K SEP IRA contribution). Many thanks for all details.

My husband and I purchased two single family homes and both will be rental properties. To protect our personal assets, I set up LLC for each property. How do I transfer the property to the LLC?