Series LLC - Indiana

6 Replies

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 ?

Originally posted by @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 ?

I was advised by my attorney (high level syndication folks) that a series LLC is not a good idea. The way you have them now is best.

Series LLC when they first came out was hot but I think they have lost thier. Also one I do not.like about as let's say you get sued now you on the defense and start to have prove the assets not connected or different.

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.

@Chuck A. To be honest, once you get some basic idea by reading books and biggerpockets, it's time to talk to an attorney. It really depends on each situation and how you look at risk. 

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