Series LLC Documents
The Series LLC is a relatively new business structure that became available in Indiana in 2017. It is often the perfect entity choice for business with multiple locations, different business operations or separate income-producing properties. We predict that the Series LLC will soon become the preferred business structure for real estate investors, especially landlords with multiple rental properties.
What Is an Indiana Series LLC?
A “Series LLC” is a limited liability company with multiple and separate business purposes or investment goals being subdivided into groups, with each group being called a “series.” In other words, a “Series LLC” is a limited liability company with multiple and separate business purposes or investment goals being subdivided into groups, with each group being called a “series.”
Why Landlords Will Love the Series LLC
Landlords with multiple separate rental properties will love the Series LLC, because each property can be held in a separate “series” and all liabilities associated with one property can be contained to that one series. Each Series can hold its own assets, conduct its own business, enter into its own contracts, and incur liability in its own name, apart from the rest of the LLC, specifically apart from the Master LLC and apart from any other Series
The Advantages & Danger of the Series LLC
The Series LLC offers a simple and effective way to separate the liability risks of separate business operations or properties. Unfortunately, few lawyers and very few CPA’s understand the Series LLC.
It is important to properly form, document, fund and operate a Series LLC. Having good documents and good legal counsel are essential to any business organized as a Series LLC.
