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Business Planning with Series LLCs (Teleseminar)
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Business Planning with Series LLCs (Teleseminar)

1 CLE hour

7/7/2015
When: 07/07/2015
1:00 PM to 2:00 PM
Contact: (404) 521-0781


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One-hour CLE programs are just a phone call away
Convenient, affordable, timely and informative
 
An 800 number connects you to nationally recognized practice leaders who will speak on important issues and emerging trends in the law. You can also pose your own questions to the speakers. Written materials and other details are emailed in advance to pre-registrants.

 

Business Planning with Series LLCs - 1 CLE hour

 

“Series LLCs” are a new and potentially powerful tool in business planning. They allow owners to isolate assets and (crucially) liabilities in various “Series,” or cells, within the “mothership” LLC.  This shields a particular Series’ assets from claims involving the assets of other Series’ assets under the LLC.  What makes the structure different is that the LLC and all of its Series will be considered a single entity for tax and non-tax purposes.  Management powers and distribution rights can be varied according to each Series, but in exchange for these and other benefits there are many limits and variations from the traditional LLC.  In addition, there are substantial UCC, bankruptcy, and title and general insurance issues.  This program will provide you with a real-world guide to understanding how Series LLCs are created, the circumstances in which they are best used, the drafting the underlying documents, and counseling clients about their use.

 

Practical uses of Series LLCs in business planning – isolating assets and liabilities in “Series,” or cells, within a single structure

How to draft Series LLCs, including essential terms for the LLC and each of the “Series” under the LLC “mothership”
Types of deals and market industries where Series LLCs make most sense
Defining management powers in the LLC and each “Series” – how control of one impacts the others 
Contributions of assets and isolation of liabilities – and the impact this has on distribution powers and rights 
Major UCC, title insurance, and tax issues in Series LLCs
Alternative structures, including the use of single-member LLCs and creative use of special allocations 

 

Speaker:

Alson R. Martin
is a partner in the Overland Park, Kansas office of Lathrop and Gage, LLP, where he has a national practice focusing on business law, taxation, health care, and retirement plans. He is a Fellow of the American College of Tax Counsel and the American College of Employee Benefits Counsel.  Mr. Martin is the author of "Limited Liability Companies and Partnerships" and the co-author of "Kansas Corporation Law & Practice (Including Tax Aspects)."  He is the president and a director of the Small Business Council of America. Mr. Martin received his B.A., with highest distinction, from the University of Kansas, and his J.D. and LL.M. from New York University School of Law.

 

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