Family Limited Partnership Agreements

family limited partnerships

Family Limited Partnership Agreements The partnership entity commonly referred to as a Family Limited Partnership (“FLP”) is simply a limited partnership with a general partner and limited partners usually consisting of family members and/or trusts. The entity is formed for asset protection and estate planning. When clients come to us with an existing partnership agreement […]

5 Steps to Forming a Family Limited Partnership (FLP)

5 Steps to Forming a Family Limited Partnership (FLP) Forming and properly operating a Family Limited Partnership (“FLP”) can be an effective asset protection and succession planning tool. At Waldron and Schneider, we help our clients form an FLP in 5 steps. Step 1 – Set-up the FLP and the managing General Partner. A management […]