White Paper

15 Pages
  • 15 Pages

FLPs for Business and Estate Survival


Does a family limited partnership make sense for your estate?

One of the biggest concerns for family business owners is succession planning. Succession planning is something that is individually tailored. One of the benefits of family limited partnerships (FLPs) is that it provides options. FLPs allows decisions as to who manages, who votes, and who holds income rights. However, the first question to ask is: does a FLP make sense? This white paper reviews FLPs as a business succession tool, as an estate reduction tool, and how to use it in advanced estate planning.



Cameron L. Hess, Esq., CPA, MBT

Cameron L. Hess, Esq., CPA, MBT

Wagner Kirkman Blaine Klomparens & Youmans LLP

  • Partner with the Northern California law firm of Wagner Kirkman Blaine Klomparens & Youmans LLP
  • Business, real estate, estate planning and federal and state tax attorney (emphasis: real estate, IT, closely held businesses)
  • Chair Corporate and Pass through Entities Committee of the California Lawyers Association Tax Section; past member Business Law Section’s Committee of the same name
  • Adjunct professor at McGeorge School of Law (Partnership Taxation)
  • More than 35 years of experience
  • Chair, The RED Group, a CalCPA Sacramento Real Estate think tank, 26-years
  • Committee member/past chair CalCPA Ed Foundation Tax Conference (and prior Real Estate Conference), 17-years
  • California Apartment Association – Sacramento Valley (government relations/past president)
  • National speaker on tax law
  • Prior: KPMG Lost Angeles Office State and Local Tax Practice (manager)
  • Spidells California Taxletter, past columnist, continuing contributing writer

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