SPIEGEL & UTRERA, P.A.

LAWYERS

PAYMENT IS NOT REQUIRED

SPIEGEL & UTRERA, P.A.

LAWYERS

PAYMENT IS NOT REQUIRED

Family Limited Partnership

$530.95$1,584.95

Why the living trust?

A Family Limited Partnership (FLP) is a specialized business structure tailored for family-owned enterprises, combining the characteristics of a limited partnership. In an FLP, family members act as both general and limited partners, enjoying the benefits of centralized family control and strategic wealth management.

This structure allows for the seamless transfer of assets between generations, fostering estate planning and minimizing estate tax implications. The significance of an FLP lies in its ability to facilitate family wealth preservation, provide asset protection, and serve as an effective tool for estate planning strategies. This makes the Family Limited Partnership a valuable option for families aiming to sustain and transfer their wealth across successive generations.
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Considering a Limited Partnership?

  • Family Limited Partnership (FLP): Tailored for family-owned enterprises.
  • Structure: Combines limited partnership features with family members as both general and limited partners.
  • Control: Enables centralized family control and strategic wealth management.
  • Asset Transfer: Facilitates seamless transfer of assets between generations.
  • Estate Planning: Effective for estate planning, minimizing tax implications.
  • Wealth Preservation: Significant for families aiming to sustain and transfer wealth across generations.
  • Asset Protection: Provides asset protection and strategic advantages for family-owned businesses.

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Living trusts, prized for probate avoidance and streamlined asset distribution, see increasing popularity as individuals seek alternatives to conventional wills. Recognizing the advantages of heightened control, flexibility, and privacy in estate management, people are drawn to these trusts. Stay informed for optimal estate planning.