FLP 101

A family limited partnership (FLP) or family LLC is an entity that holds a business, real estate, or other asset within a family, allowing for flexible control and succession, while achieving various tax benefits. A FLP or family LLC can be used to for gifts or sales, to give multiple generations ownership, leadership experience, and a voice, and often allow significant valuation discounts to reduce tax bills.

My law firmJohnson Law KC LLC, is experienced counseling clients from all stages and walks of life on FLPs, family LLCs, and other entities to solve clients’ business, estate planning, and tax issues. Call (913.707.9220) or email us (steve@johnsonlawkc.com) to schedule a free, convenient consultation.

(c) 2015, Stephen M. Johnson, Esq.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.