Family Limited Partnerships & LLCs

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A Family Limited Partnership (FLP) or a Limited Liability Company (LLC) can be an effective estate tax planning vehicle for families with business interests or real estate holdings.

These entities:

  • Allow owners to remain in control of businesses and complex asset portfolios
  • Allow the orderly and tax efficient transfer of ownership to family members both during lifetime and at death.
  • May offer protection of the owner’s personal assets from liabilities associated with the assets owned by the FLP or LLC

Family limited partnerships and LLCs are not for everyone. They are, however, an option worthy of close examination by families who wish to transfer control of substantial assets in an orderly, tax-favorable manner. Families that own residential rental properties or commercial real estate often stand to gain many benefits through the implementation of family limited partnerships and LLCs.

We can help you determine and plan for an orderly transition of assets to your heirs using these entities at a pace that is right for each client, family, and business.

To schedule an appointment contact Samuel, Sayward & Baler LLC by phone at 781/461-1020 or by email using our Contact form.