Series LLC Advantages?

[Bryan Hancock]

Rich and a few others have posted on this already and I read through those threads already so please don’t cite them here.

Is there any value in setting up a series LLC from an asset protection standpoint? My understanding is that Texas now has these, but that they have not been well-litigated with respect to protecting each series from the others if a suit is filed against one series. Has the lack of litigation changed at all in the last few years in Texas and/or in other states like Delaware?

I have property that I would like to shield from the other properties as equity grows in them. This structure seems to limit the tax return problem because only one return is filed. I have separate bank accounts for each property already so this doesn’t seem to add any additional problems.

Does anyone have one of these? It seems to be a great concept, but I am wondering what, if any, complexity or legal tradeoffs are involved.