LAW OFFICE OF

ROBERT J. MINTZ

Exclusive Legal Representation For Your
Asset Protection Planning Needs

Asset Protection

Estate Planning

International Tax

Business Planning

LAW OFFICE OF

ROBERT J. MINTZ

Exclusive Legal Representation For Your
Asset Protection Plannings Needs

 Asset Protection

Estate Planning

   International Tax

    Business Planning

Who Should Own the FLP

Once the decision is made that the FLP is appropriate in your situation, the next issue to resolve is who should own the interests in the FLP? As we will see in the next chapter, LLC law is similar in many respects so this discussion will apply to LLCs as well.

Assume we have created a Family Limited Partnership. Husband and Wife fund it with property worth $1 million. Husband and Wife, or an entity which they control, is the general partner, holding a 2 percent interest. Who should own the 98 percent limited partnership interests? Let’s briefly consider the merits of some popular strategies, and we will analyze the best of these options in greater detail in chapter 7.

Related link:
Recent Developments with Family Limited Partnerships and Limited Liability Companies