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By Lisa Featherngill and Melissa Linn A Family Limited Partnership (FLP) or Family Limited Liability Company (FLLC) is a legal entity created among family…
A family limited partnership (FLP) is a complex structure that serves a strategic purpose for individuals desiring to manage and protect family assets, limit liability and potentially secure tax benefits. This article targets families interested in estate planning, providing a comprehensive understanding of how FLPs function, their advantages and disadvantages, as well as tips on […] The post What Is a Family Limited Partnership? appeared first on SmartReads by SmartAsset.
In the realm of personal finance, estate planning stands as a paramount consideration for those who have amassed substantial wealth. For ultra-high-net-worth individuals – people with over $30 million in investable assets – the complexities and implications of legacy planning become even more pronounced. While it’s often tempting to delay such discussions, proactively managing your […] The post Estate Planning Tips for the Ultra-High-Net-Worth appeared first on SmartReads by SmartAsset.
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