Estate Planning Using Family Limited Partnerships or LLCs 2023

  • OnDemand seminar
  • Estate Planning and Probate Law
Estate Planning Using Family Limited Partnerships or LLCs 2023

This program is an excerpt from Step-by-Step Estate Planning II 2023.

Keep it in the family

Family limited partnerships (FLPs) and limited liability companies (LLCs) can be estate planning tools that facilitate a smooth and tax-efficient transfer of assets to the next generation. But when should you utilize them?

At Estate Planning Using Family Limited Partnerships or LLCs, Ann M. Rieger will outline the basics of using FLPs and LLCs and explain potential advantages and drawbacks. You’ll learn:

  • How FLPs are formed
  • Operational dos and don'ts
  • How to spot fiduciary liability issues
  • Important valuation considerations
  • Tax implications and benefits
  • And more!

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  • Learn how FLPs and LLCs are formed
  • Understand the advantages and disadvantages of using FLPs and LLCs in estate planning
  • Identify terms that should be included in a partnership or limited liability operating agreements
  • Understand the income and estate tax consequences of use
  • Preserve your clients’ assets for future generations
  • Estate planning attorneys
  • Wealth management practitioners
  • Small business lawyers