Aside from getting to live in “almost heaven,” West Virginia investors really do have something special. And we’re not just talking about the local real estate markets. From an asset protection standpoint, West Virginia investors also have more options. For instance, did you know that you can use an in-state Series LLC as a component of your asset protection plan? You can also use one from a different state if you choose. So yes, West Virginia investors can have it all when it comes to Series LLCs and asset protection. Learn more now.
Is There a West Virginia Series LLC?
West Virginia joined the club of states permitting Series LLCs fairly early on. They’ve offered an in-state option that’s a decent investment vehicle. At the very least, it’s better for investors with multiple properties or those who intend to acquire more than one property. The West Virginia Series LLC is one way you can compartmentalize assets in-state. But it’s far from your only option.
You Said West Virginia Investors Can Shop in Other States. How Does That Work?
That’s correct, you can. And it’s pretty easy. Basically, all you do is a little bit of research. You can use some of our favorite states as a starting point
- Texas. Zero state income tax, strong asset protection laws, ultra-cheap formation fees.
- Delaware. The state that originated the Series LLC craze is still popular for it’s famously pro-business legal system and simply being the pioneer in this area of asset protection.
- Arizona. Arizona’s benefits are similar to Texas’, though at the time of this writing, slightly more expensive to form.
- Wyoming. This new kid on the Series LLC block is proving effective and cheap, with low fees attracting investors from around the country.
The reality is that you can form your Series LLC anywhere, and it doesn’t have to have anything to do with West Virginia. If you love your state’s offering, go ahead and take it. But don’t forget to also research these other options thoroughly if you’re really trying to establish long-term lawsuit prevention strategies and effective asset protection.
What Else Should West Virginia Investors Know About Series LLCs?
Aside from your freedom of choice, West Virginia real estate investors should know that the Series LLC is great regardless of where you form it. It allows you to scale up easily, add new “child” Series from the comfort of home, and simplify your real estate business’s books and taxes. You can also learn more about how to strengthen your Series LLC with other legal protections such as Anonymous Land Trusts. The strength of this entity make shock you, but when used correctly, you can also count on it to cover your assets and keep you out of court