Creating Series LLC in Delaware, but purchasing a property in IN

[Brian Pate]

Greetings,

I wondered what the forums have as answers or suggestions to the following; I'm struggling to understand how we would go about buying a property under our own names and then quitclaiming into an Umbrella Delaware Series LLC with a child LLC in a state like Indiana.

Below are some of the baseline questions I had for someone with this level of experience before:

Do we need to set up a Series LLC prior to purchasing a property?

• What’s the process and what’s the cost?

We would like to understand if we purchase a property under our own names. What’s the process in doing a quitclaim

• Does the Series LLC have to be in the same state as the LLC? Or can we just register in that particular state we are doing business in?

How do you set up "children" LLCs under the Umbrella Series LLC

• What’s the process and what’s the cost?

When you have assets in the series LLC (under children of that LLC), can we lend against the Series LLC?

• What’s the process and what’s the cost?

What's the process in connecting a Series LLC to it's child in another state? Is there a process or is it as simple as registering the Series and opening a child LLC under it?

• What’s the process and what’s the cost?

Could we lend against a Series LLC even if there are no assets directly tied to it?

• What’s the process and what’s the cost?

What's the benefits of the Delaware Series Trust (DST) vs the Delaware Series LLC?

• What’s the process and what’s the cost?

If you have experience with this level of LLC creation please reach out to me and my partner.

Thank you,

Brian