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Family Limited Partnership to Protect Your Business

Family Limited Partnership to Protect Your Business

There are many sound strategies to protect the wealth you and your family have accumulated over the years. If you have a closely held family business that you want to protect from creditors and estate taxes, your attorney may well advise the preparation of a family limited partnership agreement.

How You and Your Family Can Take Advantage of a Limited Partnership

How You and Your Family Can Take Advantage of a Limited Partnership

Business and family are often intermixed. In some cases, it might make sense to make this relationship a legal formality. Family members, like anyone else, can create a partnership to manage their savings and assets. In the world of business law this is referred to as a Family Limited Partnership (FLP). Find out how you can incorporate this type of business entity into your overall estate planning process.