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Family Limited Partnership


Family Limited Partnerships (commonly called FLPs) are frequently used to move wealth from ... an entity that holds the property (business interests, real estate investments, ... An FLP can also be ...

Recent Cases Affecting Family Limited Partnerships and LLCs


Estate of Mirowski v. ..... in exchange for a 98% limited partnership interest held in the revocable trust and a 2% ... control and lack of marketability on the estate tax return. The IRS ... capacity as co-executor and as the donee of half of the gifts. ..... after the partnership was formed and there was a real economic risk of a.

Transferring Family Homes: Family Limited Partnerships, LLCs, and ...


Aug 10, 2010 ... An alternative to gifting direct interests in a family home to children or other family members is to transfer the property to a family limited partnership (FLP) or a limited ... company (LLC) and to make gifts of interests in the partnership or. ... Even though real property held by a limited partnership or LLC may be ...

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FLP: What is a Family Limited Partnership and How Can It Save ...


An answer to these difficult questions, especially for families with considerable real estate holdings, is establishing a Family Limited Partnership (FLP).

Family Limited Partnership (FLP) or Limited Liability Company (FLLC)


If you own and operate a family business, a family limited partnership (FLP) or family ... liability company (FLLC) could become a vital component of your estate plan. .... real estate, marketable securities, or almost any other investment asset.