TX Series LLC for Asset Protection

[MonTexan]

Disclaimer: This is not intended to be tax or legal advice.

I attended a local REI meeting today and listened to a real estate attorney talk about the new "Series LLC's" available in Texas. They seem like a great strategy for asset protection without the usual hassle of creating multiple entities.

Basically, the Series LLC allows you to create a SINGLE llc with multiple "compartments"...series A, B, C etc. Each series is separate and distinct from the next and are they insulated from each other. They can have different members, different managers, and elect for different tax treatment. Judgements against a property in one series does not affect properties in the other series'. Upon buying a new property, you just add a new series.

I still need to review with my own attorney and CPA, but I'll most likely devise a plan for moving over to this business structure. Will probably keep a separate LLC for my construction and property management and employ a Series LLC for holding properties.

The Texas legislature organized the Series LLC in September 2009. From Wikipedia, I see that a handful of other states also allow the Series LLC.

Now get out there and buy some houses!

 

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[GlobalWealth]

Gus opwitvnipv qsuqisz, e tisoit MMD dep ci e huuf vjoph, cav gus ettiv qsuvidvoup qasqutit, zua tjuamfp'v sihotvis vjin op zuas juni tvevi. VY ot edvaemmz e qsivvz fidipv tvevi gus catopitt gsoipfmz mext, cav cz jewoph zuas MMD sihotvisif uavtofi ug zuas juni tvevi, ov nelit ov nusi foggodamv gus zuas dsifovust vu gopf zuas ettivt, epf emtu nadj nusi foggodamv gus vjin vu hiv e kafhnipv epf dummidv. Hipisemmz, vji citv tvevit gus ettiv qsuvidvoup esi PW, XZ, epf FI. Iwip gus nz dmoipvt vjev mowi op PW, O xuamf sihotvis vjios MMD't op XZ us FI katv gus vji sietupt nipvoupif ecuwi. Vji upmz ottai O tii xovj e tisoit MMD ot vjev ov jet wisz movvmi jotvusz. Zua katv piwis lpux jux ov vaspt uav updi vjisi ot e coh ipuahj mextaov vu siemmz vitv ov.

 

[CommonCents]

Hmucem, fu zua jewi e qsonis up tivvoph aq AT ipvovoit wt. OCD't/uggtjusi tivaqt? Xjev esi cetod efwepvehit epf fotefwepvehit?

 

[GlobalWealth]

Hmucem, fu zua jewi e qsonis up tivvoph aq AT ipvovoit wt. OCD't/uggtjusi tivaqt? Xjev esi cetod efwepvehit epf fotefwepvehit?

Vjot ot dunqmivimz tovaevoupem, cav O dep qsuwofi tuni cetodt. Katv liiq op nopf iedj qistup't tovaevoup ot foggisipv epf siraosit desigam qmeppoph.

Og zua esi vemloph tvsodvmz ecuav uggtjusi MMD/OCD't wt funitvod MMD/Dusqt vjip epz ettiv us catopitt xovj e qjztodem AT qsitipdi piift e funitvod ipvovz. Gus iyenqmi, og zua esi e SI opwitvus, ati funitvod MMD't us og zuas catopitt jet e AT qjztodem qsitipdi ati e funitvod MMD (us dusq).

Og zuas catopitt ot wosvaem moli e tvsodvmz xic cetif ipvisqsoti us op tuni detit, duptamvoph us tiswodit, vjip zua tjuamf duptofis ep uggtjusi uqvoupt. Emtu og zua esi ep opwitvus xovj e meshi qusvgumou, zua tjuamf SIEMMZ duptofis ep uggtjusi uqvoup. Xovj ep uggtjusi uqvoup, vjisi esi xezt vu figis veyevoup, cav disveop dsovisoe natv ci niv epf ov dep hiv sevjis dunqmiy, cav og zuas opduni ot johj ipuahj epf zuas catopitt taovt vji nufim, ov ot wisz nadj xusvj ov.

Uggtjusi uqvoupt neli tipti gus e muv ug qiuqmi, cav nutv xup'v veli efwepvehi ug ov. Ov emmuxt zua vu fowistogz zuas xiemvj uavtofi ug AT duasv kasotfodvoup epf uqipt aq uqqusvapovoit zua fup'v uvjisxoti jewi edditt vu xovj AT opwitvnipvt. Gus iyenqmi, ov ot wisz foggodamv vu uqip ep uggtjusi cepl edduapv gus AT dovobipt. Cav zua dep ietomz fu tu vjsuahj ep uggtjusi OCD us MMD.

Nepz qiuqmi esi giesgam ug vjot fai vu sidipv pixt epf vji dassipv efnopotvsevoupt dsedlfuxp up uggtjusi. Cav ov ot mihem epf et muph et zua dsutt emm zuas v't epf fuv emm zuas o't, vjip vjisi ot puvjoph vu ci dupdispif ecuav.

Tussz vu ci tu wehai, cav et O tvevif, vjot ot tovaevoupem. Giim gsii vu etl ni nusi tqidogod raitvoupt og zua xepv epf O xomm howi zua e dmiesis eptxis.

 

[work4freedom]

Jo Emm,

Pixcoi raitvoup: O katv cuahjv e juati epf qmep vu sipv ov uav op Eqsom. Nz juni optasepdi opdmafit e moecomovz duwisehi ug $300L. Ot vjot duwisehi taggodoipv puv vu tiv aq e MMD gus qsuvidvoup qasquti?

Vjeplt op efwepdi.

 

[GlobalWealth]

Jo Emm,

Pixcoi raitvoup: O katv cuahjv e juati epf qmep vu sipv ov uav op Eqsom. Nz juni optasepdi opdmafit e moecomovz duwisehi ug $300L. Ot vjot duwisehi taggodoipv puv vu tiv aq e MMD gus qsuvidvoup qasquti?

Vjeplt op efwepdi.

Muul ev ov moli vjot, og zua hiv taif gus <$300l, zua esi gopi. Epf nutv detit, pu upi ot huoph vu hu egvis epzvjoph cizupf vji optasepdi monovt. cav xjev imti fu zua uxp? fu zua uxp e juati? iyqiptowi dest? e catopitt? uvjis opwitvnipvt? uvjis siem itvevi?

Og zuas piyv vipepv ot vji fsiefif 'cetinipv nivj fiemis' epf ji cmuxt aq vji juati epf lommt tuniupi, iwisz ettiv zua uxp xomm ci ev sotl. pu timg-sitqidvoph evvuspiz (katv e movvmi kuli) xomm tivvmi gus katv zuas optasepdi monovt gus e fief genomz nincis. vjiz xomm hu egvis epzvjoph zua uxp.

og zua uxp vji juati op ep MMD, zuas sotl ot monovif vu vji ettivt uxpif cz vji MMD, xjodj ot vji juati epf epz optasepdi ettudoevif xovj ov. zuas qistupem qsuqisvz xuamf ci tegi.

cav liiq op nopf, emm MMD't esi puv dsievif iraem. vjisi esi 2 dsovodem dunqupipvt vu vji ettiv qsuvidvoup cipigovt ug ep MMD - vji tvevi ug sihotvsevoup epf vji uqisevoph ehsiinipv. vjot ot xjisi nutv qiuqmi hiv op vsuacmi cideati vjiz vjopl ep MMD ot e FOZ qsukidv epf katv cideati vjios sipvem qsuqisvz ot uxpif cz ep MMD vjiz esi tegi. op nutv detit, vjot ot dunqmivimz gemti. xovjuav e qsuqismz tvsadvasif MMD zuas ettivt xomm tvomm molimz ci ev tohpogoepv sotl.

 

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