Series LLC - layman`s terms & films

[D'Amato]

I have a question about business - can somebody explain Series LLC in a easy and understandable way.

Also:
If you make a series of films, is it wise to have a LLC for each film? I know many do that.

 

[Andrew McCarrick]

If you make a series of films, is it wise to have a LLC for each film? I know many do that.

I can answer this half. It's suggested that you have a separate entity for each film.

Say you have your first film and you have no issues with it what-so-ever. You shot your second film under the same L.L.C., and you have some sue you for some reason. Now since you shot both films under the same L.L.C., the person suing you for the second film can take your assets of the first film.

 

[Alex H.]

I'd consult an attorney, really. This is a matter for professional legal opinion. Just make sure you talk to one who specializes in this industry.