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Series LLC setup

1,656 Views | 9 Replies | Last: 2 yr ago by Agilaw
Dr T and the Women
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AG
I would like to set one up for investment property. A regular LLC is pretty easy to set up online through legalzoom etc but I have not found a TX series LLC option.

Does anyone have a good lawyer recommendation? If you have done it would you mind saying how much you paid to set up?
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Gigem_94
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AG
Process is the same as regular LLC but there is a standard paragraph that you just insert in the supplemental provision section of the filing establish it a series LLC and then file assumed names for each individual series in each applicable county and w sec of state. I've set up several series LLCs out of the hundreds of LLCs I've set up but don't do it often for practical reasons mainly because few people outside of the legal world know what they are or how to do business with them. And it really confuses banks and lenders. Title companies sometimes have issues too because an individual series itself is not a legal person/entity and technically land has to be owned by a legal person/entity - there is a way to deal w it though but can be a headache. It's going to take a while before they become mainstream. And there are very few court cases on them so who knows how different aspects will shake out. In my opinion it is just easier to use separate LLCs instead of individual series and use a separate parent LLC to own those (and I set up my parent LLC in Delaware so I don't have to register the actual owner in the public records) - it isn't that much more expensive to do that ($308 filing fee for each LLC).
ratfacemcdougal
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Chris Peterson. Free consult and flat fee for what you want done.
Dr T and the Women
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AG
thanks to you both
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Martin Q. Blank
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Gigem_94 said:

then file assumed names for each individual series in each applicable county and w sec of state.
I don't think you do this. Just the Sec of State.

This is the website I used to reference when I set mine up.
https://fairlawpllc.com/texas-series-llc/

H.B. 3609 essentially removes the county's power to file assumed name certificates on behalf of registered entities such as LLCs and corporations, counties can no longer accept any assumed name filings that contain designators that include "LLC."
Dr T and the Women
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AG
Martin Q. Blank said:

Gigem_94 said:

then file assumed names for each individual series in each applicable county and w sec of state.
I don't think you do this. Just the Sec of State.

This is the website I used to reference when I set mine up.
https://fairlawpllc.com/texas-series-llc/

H.B. 3609 essentially removes the county's power to file assumed name certificates on behalf of registered entities such as LLCs and corporations, counties can no longer accept any assumed name filings that contain designators that include "LLC."



That was who i was going to call but the wife had only one star reviews online
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Martin Q. Blank
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I didn't use them personally. I just used that article and did it myself.
itsyourboypookie
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Debt on the asset is your #1 asset protection.

Insurance is #2
Agilaw
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AG
On vacation and just saw this post. I have set up LLCs, including series LLCs, for several from Texags. You can see many of my previous posts on the Series LLC. Let me know if you are still looking for help.
Dr T and the Women
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AG
Agilaw said:

On vacation and just saw this post. I have set up LLCs, including series LLCs, for several from Texags. You can see many of my previous posts on the Series LLC. Let me know if you are still looking for help.
what is the best way to contact you?
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Agilaw
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AG
I'm in Lake Buena Vista until afternoon on Tuesday. You can email me at txmdsa@gmx.com and we can discuss and share phone contact information. Have a great day.
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