What is Series LLC? Are Series LLCs a good tool for asset safeguarding or asset protection? And do Series LLC work?
There are a few reasons to stay away from Series LLCs for now, and this is because there are too many people who don’t know how to answer this question: How does a Series LLC work? This is especially true if your Series LLC was sued and you had to go in front of a court of chancery.
The California FTB doesn’t know how to answer this question either. This is because the CAFTB treats Series LLCs the same as regular LLCs.
The use of Series LLCs also raises other questions too. What happens when you move LLC to a different state? Do Series LLCs make bookkeeping life easier? How does your CPA file a tax return for Series LLCs? And how do they affect your personal liability?
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DISCLAIMER: The contents of this video are NOT LEGAL ADVICE and do not apply to your specific circumstances. This information is provided for general informational and educational purposes only. Viewing this video DOES NOT CREATE AN ATTORNEY-CLIENT RELATIONSHIP. We highly encourage you to seek professional legal advice before acting or relying on any information contained in this video.
