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FLP (Family Limited Partnership)

Family business focus: Addressing estate and succession planning

ESOP Employee Stock Ownership Plan, Estate Planning, Family Business, FLP (Family Limited Partnership), Gift and Estate Tax, Succession Plans, Trust /

The future often weighs heavier on the shoulders of family business owners. Their companies aren’t just “going concerns” with operating assets, human resources and financial statements. The business usually holds a strong sentimental value and represents years of hard work involving many family members. If this is the case for your company, an important issue […]

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Does your family business’s succession plan include estate planning strategies?

Estate Planning, Federal Estate Tax, FLP (Family Limited Partnership), Gift and Estate Tax, Trust, Uncategorized /

Family-owned businesses face distinctive challenges when it comes to succession planning. For example, it’s important to address the distinction between ownership succession and management succession. When a nonfamily business is sold to a third party, ownership and management succession typically happen simultaneously. However, in the context of a family business, there may be reasons to

Does your family business’s succession plan include estate planning strategies? Read More »

An FLP can save tax in a family business succession

FLP (Family Limited Partnership), Gift Tax, Small Business, Tax Cuts and Job Acts (TCJA), Tax Planning, Tax Savings /

One of the biggest concerns for family business owners is succession planning — transferring ownership and control of the company to the next generation. Often, the best time tax-wise to start transferring ownership is long before the owner is ready to give up control of the business. A family limited partnership (FLP) can help owners

An FLP can save tax in a family business succession Read More »