Conversion to a Series LLC

I argue that some of the important gray aspects of SLLCs are becoming clear, so I should comment on some of the considerations for converting a holding company to a SLLC and provide some of conceptual basis for them. In brief: Series LLCs provide liability insulation when (1) property is formally allocated to a series… Read More »

IRS Treatment of Series LLCs: the fog is lifting

For the past years we have heard three refrains: (1) series limited liability companies, or SLLCs, may be good for some purposes but there was uncertainty over (2) how jurisdictions that did not independently recognize SLLCs would honor their asset segregation and (3) how the IRS would handle series filings. As we continue to monitor… Read More »

Failure to Read the Contract is Not a Sign of Trust

As the news stories about the recently wrecked passengers of the Costa Concordia attest, we are used to taking the “fine print” on faith. Even though the cruise company is based in Florida, if those passengers want to sue for damages for their ruined vacation–and worse–they are forced by the contract terms they almost certainly… Read More »