Whether you’re set on forming a Series LLC or interested in the Series LLC’s benefits for real estate investors, this article will give you the very basics on what you need to know about setting up a Series LLC as an Ohio investor. We will go over in-state and out-of-state options, while answering some frequently asked questions and providing tips for how you can get the help you need from your paid professionals.
Each State has its definitions about which entities may be formed within its borders. Ohio is not yet among these forward-looking States. Whether this will be the best entity for you will depend on a variety of circumstances, both personal and business. There are good reasons for the Ohio investor to form a Series LLC out-of-state.
Sometimes these reasons are obvious, such as cost. Ohio investors may want to form out-of-state is to take advantage of the stronger asset protection laws in other states or to make use of certain types of trusts not allowed by Ohio law. To help you understand your option, below we will compare the Ohio Traditional LLC with its counterparts from other states with forgiving LLC laws for investors.
Although Ohio is a great state for forming a Traditional LLC, we recommend the Series LLC for asset protection. There’s a danger to “pooling” multiple assets into one Ohio LLC. If that LLC is ever sued, everything in it is vulnerable to seizure.
The Texas Series LLC is an ideal solution for many investors. You don’t have to own property, nor ever even travel to Texas to use a Texas Series LLC. While we all know that the Series LLC is inherently beneficial, here are some perks that are special to Texas’s Series LLC.
Delaware offers similar benefits, but is more expensive.
The asset protection experts at Royal Legal Solutions can help you establish your Series LLC, whether you’re in Ohio for now or forever. To truly know which option will be best for you, one of our experts will need to review your situation with you. You really are unique, as is your real estate business. Which structures will be best is something that you can hash out quickly with a seasoned pro, but we need to know your circumstances. Let our team of legal professionals help you. Schedule your personalized asset protection consultation now.
Scott Royal Smith is an asset protection attorney and long-time real estate investor. He's on a mission to help fellow investors free their time, protect their assets, and create lasting wealth.
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