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DELAWARE SERIES LLC:  Better than using multiple LLC's?

Delaware has created an innovative solution to those with many assets and those who seek to keep it under one umbrella: The Delaware Series LLC.

On the surface, it makes to use a Delaware Series LLC for the following reasons:

Delaware Series LLC Advantage #1.  Multiple partners have an interest in many different types and parcels of property.

Delaware Series LLC Advantage #2.  There appears to be a multiple layer effect using the series LLC.

Delaware Series LLC Advantage #3.  Those who promote the Delaware Series LLC mention that it costs less to form one entity than to form multiple LLC's. 

HOWEVER, the following challenges are important:

Delaware Series LLC Problem #1.  Many attorneys are NOT familiar with the Delaware Series LLC and those who are knowledgeable--charge an arm and a leg.  This leaves you more "in the hole" on the legal fees although you saved a few hundred dollars in incorporation expenses.

Delaware Series LLC Problem #2.  The Delaware Series LLC is unproven in its capacity to protect using a multi-layer approach.  Many attorneys simply don't like the Delaware Series LLC because they are uncertain of the advantages, the potential problems and the protection is unproven.

Delaware Series LLC Problem #3.  Considering the cost of the Wyoming LLC, you're better off with several Wyoming LLC's rather than risk using one Delaware Series LLC.

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