As the year draws to a close, our hearts are filled with gratitude. The Legal Education team is especially grateful for the chance to serve you and support your work as estate planning professionals. Thank you for all you do to bring peace and a sense of security to the clients and families you serve. From all of us on the Legal Education team, we wish you and your loved ones a joyous, restful holiday and a very Happy New Year.

In Part I, I reviewed some of the history and issues surrounding series LLCs and their application. In Part II, I’ll address more recent developments, including a look at the status of the Uniform Protected Series Act, currently under consideration by the National Conference of Commissioners on Uniform State Laws (“NCCUSL").

While series LLCs have gained in popularity and use among states that have authorized them, the lack of state uniformity in the treatment and acceptance of series LLCs has led more conservative attorneys, advisors and clients to avoid them, believing that the uncertainties and potential risks outweigh the perceived benefits.