Sean Robertson and Gateville Law Firm concentrate in real estate and real estate law for real estate investors. Whether you are flipping or holding real estate or property long-term, Attorney Robertson can assist you with the following types of real estate issues:
- Real estate closings for buyers and sellers
- Limited Liability Company Business Formations and Incorporations
- Parent Company and Subsidiary Company set-up and asset protection planning
- Business and real estate structure planning
- Estate Planning for Real Estate Owners and Investors
- Set up of Private Land Trust for Privacy and Asset Protection
- Asset Protection Planning for Real Estate Owners
What is a Series LLC?
A Series LLC is a type of LLC, which enables a real estate investor to set-up individual series LLC under one parent company umbrella. A Series LLC in the State of Illinois and Will County was established in 2005. A Series LLC allows a real estate investor to pay $450 for a series LLC, which enables a real estate investor to set up subsidiary LLCs or otherwise called “Certificate of Designation” LLCs under an umbrella or parent LLC. One also can modify the terms of a standard LLC by paying a $300 filing fee and filling out the proper paperwork to upgrade a standard LLC to a series LLC.
Personal Liability Protection for Owners of an LLC in Plainfield, Shorewood, and Joliet
A Limited Liability Company or otherwise called an “LLC” enables a person creating the LLC to protect themselves from the liability concerns of the LLC. In general, an LLC protect one’s personal assets from the assets of real estate ownership or business assets. The purpose of a Series LLC is to properly structure multiple real estate properties under one umbrella to maximize each real estate property from the liability concerns of the other properties. Thus, a series LLC is an excellent liability tool for a real estate investor or business owner that owns multiple properties or businesses. Each separate business or property forms its’ own LLC, which enables each LLC or property (or business) to protect itself from the liability concerns of other related businesses.
Unlike most real estate attorneys, Attorney Robertson has a niche in estate planning and asset protection for real estate investors. Attorney Robertson utilizes the latest techniques and strategies to maximize profitability and asset protection for real estate owners, investors, and construction owners.
Unlike a typical LLC, a Series LLC enables a business owner or real estate owner to file one annual operating report for the parent company. For example, a real estate investor that owns five (5) properties under separate LLCs may file one annual report to the Secretary of State (Illinois) instead of filling out five (5) separate annual reports. An LLC contrasts with a Corporation, because it is cheaper to set-up in the State of Illinois and is a modern version of a Corporation.
Asset Protection and Estate Planning for Real Estate Investors in Plainfield, Shorewood, and Joliet in Will County
A major problem for most families in Plainfield, Joliet, Shorewood, and Will County is a lack of estate planning and asset protection planning. One major lawsuit can destroy a family’s wealth. Asset protection is the process of planning one’s assets in a manner to minimize or eliminate the likelihood of a lawsuit. Another major goal of asset protection is the elimination of liability risks typically assumed by owning multiple properties.
At Gateville Law Firm, our law firm concentrates in real estate law. We handle real estate closings, asset protection, and estate planning for real estate owners and investors including flippers. Attorney Robertson may be reached at 630-780-1034. Our law office operates virtually and can set-up an appointment at your business or house. Our attorneys and real estate staff operate virtually and concentrate in real estate law in the Plainfield, Bolingbrook, Romeoville, Crest Hill, Shorewood, and Joliet areas of Will County.