Hey friends!
Has anyone hired the company: Royal Legal Solutions ?
They do Asset Protection - Specifically SERIES LLC’s
I was thinking of hiring them - but need to find someone that has used them first 
Thanks from Montana
Series LLCs are a new creature and not generally accepted or useful in states other than those that allow them. I’m not 100% familiar with them but based upon my basic understanding I’m not sure what the difference is to an investor between a Series LLC and multiple LLCs. Except the obvious administrative burden of separate entities.
This as well as the cost of each individual LLC. A DBA costs 20 bucks.
Series LLCs are not a terribly difficult thing to set up, they just put a specific paragraph in the formation documents (according to the state law that allows it) how the legal demarcation is a DBA instead of the LLC itself. If your real estate attorney cannot set one up the can refer you.
Never used that firm so cannot comment. On the series LLC, a primary advantage is you can form new LLCs under the Master LLC without having to register a new company each time. Imagine that you have 10 properties in individual LLCs. In my home state of Delaware, it cost $300 per year in franchise tax to have an LLC. 10 LLCs would cost $3,000 per year. The Series LLC would cost $300 per year and achieve the same objective.
The problem is if you cross state lines. If you form a series LLC in one state and one of the sub-entities buys property in another state that does not recognize this structure, then what happens? Do you have to form a new domestic entity anyway? If so, what is the purpose of the series? It is a duplicate structure at that point unless you will only focus on buying properties in states that recognize the structure.
We briefly considered the series LLC and decided against it. The main reason was that we have no idea in which state our next property will be so we didn’t know if the structure would cover it. If we operated 100% in Delaware, it would have been a no-brainer, but all of our properties are everywhere but here. Also, although the $300 per year sounds steep, it a mere blip on your income statement.
You posed a question regarding the scenario of crossing state lines: do you know the answer to it or were you being rhetorical? I have no structure set up currently, but all my property is in a state that recognizes Series LLCs, so I’m considering setting one up, at least for my current businesses.
The Series LLC should only be used in the state it’s allowed to be legally formed. Use of it in a state that doesn’t recognize series LLC’s (or have different rules for them) would treat all assets under the master LLC in one bucket instead of distinct ones defeating its purpose.
I have never understood why some people use an out of state LLC for real estate other than ownership obscurity.
I knew for a fact that this was an issue when I explored it. I am not saying it could not be done, I am saying when I considered doing it, it required additional measures that, when taken, would cause duplicate efforts.