Family Limited Partnerships: Critical Failures & Mistakes


Family Limited Partnerships Must Comply With Operating Rules and Documentation

What Not To Do with Family Limited Partnerships

The planning and formation stage is just part of the process of having a successfully implemented family limited partnership (FLP).  Failure to attend to operational details and other factors or mistakes can invalidate the tax advantages of this vehicle.  Here are some pitfalls to avoid:

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From their offices in Philadelphia, PA, the law firm of Steven J. Fromm & Associates, P.C. provides a full range of estate planning, probate and estate administration, tax, business and corporate legal services to clients throughout eastern Pennsylvania and the Delaware Valley, the Lehigh Valley Area, the Five-County Area, Bucks County, Delaware County, Montgomery County, Chester County, Philadelphia County, Berks County, Lehigh County, Lancaster County, York County, Harrisburg, Norristown, Doylestown, Media, West Chester, Allentown, Lancaster, and Reading.