Series LLC - Indiana

[Chuck A.]

Has anyone setup a Series LLC in Indiana ?

I currently have several properties in a couple of LLC's and looking to move them to a series LLC for better individual property protection. Thoughts ?

[Soh Tanaka]

Obviously talk to your attorney, but just in general, putting a separate LLC/series for each property is considered overkill, unless there's substantial equity in it. I heard one attorney says $250 k equity is the quick-and-dirty cutoff line. I used to have a series LLC and made a series for each property and that was too much. Each series need to have it's own books, checking account, debit card, and so on.