Family Limited Partnerships

Family Limited Partnerships (FLPs) are valuable estate planning tools that can provide significant benefits for families looking to manage and transfer wealth efficiently. At Hyatt McIntire & Associates, we specialize in helping families establish and manage FLPs tailored to their unique needs and objectives. An FLP involves creating a partnership structure where family members contribute assets and become limited partners, while a general partner (often a family member or trusted advisor) manages the partnership. FLPs offer various advantages, including centralized management of family assets, potential tax benefits through valuation discounts, creditor protection, and flexibility in transferring wealth to future generations. Our experienced attorneys work closely with clients to structure FLPs effectively, ensuring compliance with legal requirements and maximizing the benefits of this estate planning strategy. If you're interested in exploring the benefits of a Family Limited Partnership for your family's wealth management and succession planning, contact us today for personalized guidance and support tailored to your specific needs.