Whether you’re in the big city of Seattle, overlooking the Puget sound, enjoying the highest quality-of-life in America on Bainbridge Island, walking past the wildflowers of Burien, or somewhere else amidst the greenery, there’s no shortage of beautiful views and beautiful homes in Washington State. So the Washington investor is often a sophisticated, intelligent one–the kind of investor who not only knows they need asset protection, but is pretty sure they need a Series LLC. It’s safe to say you’re highly intelligent folks, and we’ll address you as such. So Washington investors, please enjoy your personal guide to using the Series LLC for real estate investing.
Does Washington State Have a Series LLC?
Washington is not yet among the states to adopt Series LLC legislation. That means there’s no such thing as a Washington Series LLC. The state does, of course, have Traditional LLCs available if you’re determined to get a local entity. But if you want to get a Series LLC, you’ll have to play by the laws of a different state. But don’t worry, we’ll show you how.
How Should Washingtonian Investors Defend Real Estate Assets?
No matter where you live, asset protection strategy stays the same. You need to compartmentalize your assets and maintain your anonymity, and you can use a variety of legal tools as a means to this end. The ideal asset protection plan accomplishes both of these goals.
The Series LLC is a critical component of such a plan because it allows the investor to compartmentalize and grow without extra expense. The good news, Washington investor, is that you get to take your pick of any of these great states for forming LLCs:
- Texas. Come on down to Texas for low formation fees, no state income tax, and rock solid asset protection laws.
- Delaware. If you’re committed to staying in the North, Delaware did originate the Series LLC. It’s pricier than TX to maintain, but you do have advantages like the special Chancery courts, which are presided over by business law expert judges. It’s a pro-business state, for sure.
- Wyoming. As of Summer 2019, Wyoming’s one of the newest Series LLCs that just happens to be among the cheapest. Its laws are modeled after other states with strong asset protection legislation.
Really, you can pick any state. But we recommend Texas above the rest, because that’s the place to go if you want to send this message: don’t mess with my assets. The Texas Series LLC is a great solution for the Washington investor with multiple properties, or even aspirations of owning multiple valuable assets. Other businesses may also be placed within your Series LLC structure to protect you from liability issues.
How Do Washington Investors Pick a Series LLC?
You can establish your Series LLC easily. Get in touch with an attorney who has experience forming these entities, let them know exactly what you want, and a competent attorney can lead the way from there. Welcome to the club of real estate investors who can sleep easier at night, never worrying about bogus lawsuits threatening their assets.