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www.vtwlaw.com/family-limited-partnerships

A Family Limited Partnership (FLP) is a special legal vehicle that can preserve a family business for future generations while helping to shelter assets and reduce overall gift and estate taxes. FLPs are commonly used as part of business succession planning, business continuity plans, and often serve as an integral ...

btjlaw.com/index.php/articles/family-limited-partnerships

A properly structured limited partnership, formed and owned by family members to hold business and investment assets, can also be used to facilitate the transfer of ownership interests in such assets among family members. This structure accomplishes several significant family and estate planning goals and, at the same ...

www.farmdoc.illinois.edu/legal/articles/ALTBs/archive/ALTB_00-04.html

Abstract: A family limited partnership is a very attractive estate-planning tool because it permits a parent to significantly discount the value of gifts to children.Ý This material discusses the advantages and disadvantages of forming a family limited partnership.

frascona.com/use-of-family-limited-partnerships-in-estate-planning

May 1, 2003 ... Family limited partnerships can be useful vehicles for accomplishing certain estate planning and asset protection planning goals. Historically, they were often used as an alternative to a corporation for purposes of holding real estate or as an operating vehicle for a family business because they offer limited ...

www.n-klaw.com/family-limited-partnership

Family Limited Partnership. A partnership is a consensual arrangement between two or more persons to join together to engage in a business or other profit motivated activity. A limited partnership is a form of partnership where at least one partner's liability is limited solely to the assets the partner contributes to the limited ...