Series LLCs: When to Use and When Not to Use (On-Demand)

Course Description

Origin and purposes of Series LLC.  Filing of the Articles of Organization for a Series LLC. Provisions of the Operating Agreement and whether to have one or separate operating agreement for each cell. Two types of asset protection from LLCs: Enterprise Liability Protection and protection of members from outside creditors. Protected Series versus Registered Series. Formation of a Registered LLC in Delaware. Example of where use of Series LLC is advantageous for real estate properties. Controversies and criticism of the use of Series LLCs. Powers of Series LCs and how to structure. Which real estate or businesses may benefit from Series LLCs and when to use separate LLCs that are not in a series. State variations among series. The uncertainties of the treatment of Series for UCC Financing Statements and in bankruptcy. How to create a series LLC and maintain them. Federal and state tax treatment of Series LLCs.

Syllabus

1. Examples of where Series Are Advantageous
2. Reduction of LLC Operating Costs
3. Separate enterprise liability protection for each small business or property
4. Protected vs Registered LLCs
5. Formation of Registered LLC in Delaware
6. UCC & Bankruptcy Issues
7. Use for Larger properties
8. Federal and State Tax planning

Instructor

Roger McClure, Esq.