Web Results

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 ...

www.bonadio.com/news-events/articles/managing-family-limited-partnership-after-2016-beyer-tax-court-case

Mar 8, 2017 ... In Beyer vs. Commissioner, the Tax Court included in the transferor's estate the value of undiscounted assets that had been transferred to the Family Limited Partnership (“FLP”). In this case, the IRS was successful in attacking one of the tax benefits associated with creating an FLP. Family Limited ...

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 ...