Estate Tax Planning & Family Limited Partnerships
The joint partner manages the property that contributes to a limited family business. Limited partners usually have no rights with regard to ownership of the program. The lack of a market share of limited partners and the lack of partial ownership are two established principles that reduce the value of a taxable asset. Limited restrictions due to limited rights reduce the value of ownership of each of the limited partners but increase the number of annual tax-free contributions that can be obtained. The current high marginal tax rates enable intelligent and intelligent planning to preserve the prosperity of the family.
Management of central family ownership
When a company is used as a public partner, the general partner examines the ownership of the company. This company can also appoint family members and others. It will organize meetings, organize training sessions and facilitate heritage management. In the case of husband and wife, even with a general partner of the company, continuity must be guaranteed.
Minimization of the caliph
The time and costs of heritage testing can be significantly reduced with FLP. When a live trust is used, there is no follow-up. Live assignments are not public files, so no one knows their content except those who share the family.
Loss of treatment address
The process of transferring ownership in FLP can help to detect property defects. This can be a big problem for real estate if they are not found and they are cured.