Cummins Law Office, P.A.
Experienced • Thorough • Capable
Family limited partnerships can be used to accomplish a number of important estate planning goals, including the establishment of a centralized structure to hold family assets, involvement of children in decisions regarding family investments, and protection of assets from various types of risk. In addition, Family limited partnerships often provide a means to transfer wealth from parents to children in a highly efficient and tax advantageous manner. A properly established family limited partnership can result in leveraging the annual gift tax exclusion to accelerate tax free transfers of wealth from parents to children.
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