The techniques I am referring to are sales to an irrevocable grantor trust and the establishment of family limited partnerships
72 percent limited interest in the family limited partnership
to his surviving spouse.
gifts of--interests in family limited partnerships
(FLPs), as well as the composition of those FLPs at the time of the transfer.
The future of the family limited partnership
is now even more bleak.
the government in a number of family limited partnership
Question--Will the LLC replace the family limited partnership
as an estate planning tool for family business and investments?
DFA owned 50 percent of the voting interests in Southern Belle and the family limited partnership
owned the other 50 percent.
In one of the scenarios, they demonstrated how gifting minority interests to the children, creating a family limited partnership
to hold business real property, and doing a sales-and-leaseback of the principle residence provided a savings of $2 million dollars in death taxes to the heirs of a family-owned business.
The property sold for $3,700,000 to Janosz Family Limited Partnership
of San Diego.
The family limited partnership
must pass the "assignment-of-income principle" test to be treated as such.
Simms, we will take a more in-depth look at the use of the Family Limited Partnership
as a viable tool for the transfer of family wealth.
The receiver is 322 East Center Street LLC, an affiliate of The Battaglino Family Limited Partnership
, which also owns the adjacent River Bend Country Club.