04 August

Family Limited Partnerships: The Power to Move and Protect Your Wealth for Future Generations

Family limited partnerships (“FLPs”) give senior family members a tax efficient way to shift wealth to future generations while still exercising control over their assets. As an added benefit, by forming a FLP, senior family members remove assets out of their estate—generally at a reduced transfer tax value. The FLP structure consists of a general partner and limited partners who typically …