LLCs and Family Limited Partnerships
LLCs and Family Limited Partnerships can offer a number of advantages, which can include reducing values for estate tax purposes and making it difficult for creditors to penetrate and take over ownership or control of assets. Information on Corporate Firewall Protection Using Corporations and Other Entities to Provide Liability Protection – can be viewed by CLICKING HERE
Proper structuring can also assure that assets that have been gifted may still be controlled by the donor.
Common mistakes made with respect to LLCs can reviewed below.