What is the difference between a traditional LLC and a Series LLC?

In a traditional LLC, you limit your personal liability. This is great for protecting yourself from any lawsuits, debt collections or bankruptcies that are filed against your business. However, unless you establish multiple traditional LLCs, all of your business assets fall under one umbrella. Enter the Series LLC. With a Series LLC, you establish one “parent” Series LLC. Beneath this, you can form as many “child” Series LLCs are you need. This means you can compartmentalize each of your business assets. Why do this? Because, just like the barrier a traditional LLC creates between you and your business, the Series LLC creates legal divisions between your assets.

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