Posts tagged Family Limited Partnership.
Family limited partnerships have long been a valuable tool of the estate planner. Although historically recognized as providing estate tax planning benefits through the discounted value of assets, these limited partnerships can also implement succession planning goals for the closely-held or family-run business, including the transition of management/leadership for the business.
Limited partnerships provide three key benefits to the business owner:
- a limited partnership is not subject to income tax - it is a "flow-through" entity for income tax purposes;
- in organizing the ...
Posted in: Estate and Gift Tax, Federal Tax
Tags: estate planning, estate tax, Family Limited Partnership, gift tax, succession planning, Tax Benefit