The Series Limited Liabillity Company (LLC)
The series limited liability company, also known as the series LLC is a newer entity structure that not as many attorneys and/or individuals know about.
The purpose behind establishing this entity structure is its enhanced organization capabilities. Single LLCs need to be filed individually and separately. A series LLC only requires one initial filing, which creates multiple "cells" that you can use to operate completely autonomous activities or businesses. There are some costs and administrative burdens that are associated with each individual cell, however, these do not outweigh the requirements of each individual single LLC filing.
The one major downfall to this entity structure is it's age. There are very few states that have accepted the series LLC as of today and only a handful of states that allow for the creation of this entity type (Delaware being the first state in 1996).
The series LLC is definitely a great option to look into if it fits your business and investment objectives, or you regularly set up limited liability companies. However, this may not be the likely choice if you intend on only having a single business.
Contact us and we can look over your specific objectives and help advise on whether the series LLC is the proper entity for your individual and business goals.
YES, YOU CAN LOSE EVERYTHING!
You may think that your wealth is safe and that you don't need protection. But don't delude yourself and accept reality — for every 60 minutes you spend making money, spend 60 seconds thinking about how to protect it!