Family Limited Partnerships: Tax and Legal Requirements
Running an FLP as a vehicle for estate planning can be tricky.
A vehicle that has been used with increasing frequency in estate planning is the family limited partnership (FLP). This business entity has the potential to provide enormous benefits to anyone who wishes to transfer their wealth to family members before or after their final demise. However, an FLP is not without its pitfalls, and it takes some careful planning to avoid them all. The following white paper provides some of the most important advantages of this financial tool and tips on how to avoid common problems associated with the creation and maintenance of an FLP.
Review family limited partnerships.
Identify advantages of a family limited partnership for estate planning
Review considerations in forming a family limited partnership.
Gain tips for managing a family limited partnership.
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