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Limited Partnership or FLP
In Florida, one of the strongest asset protection entities is the limited partnership — or to be more precise, a family limited liability limited partnership. This is a mouthful, so let’s just call it a FLP. The FLP is a powerful legal tool that offers multiple benefits, such as minimizing estate taxes and making gifts to children without giving them cash or any control. However, another major benefit of the FLP is asset protection. The FLP is often used as an umbrella or holding company over family entities, adding a second layer of protection that is extraordinarily difficult to penetrate for any would-be creditor.
Learn More About the FLP
To learn more about this valuable legal tool, request our white paper Benefits Of The Family Partnership at info@raricklaw.com.
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Rarick, Beskin & Garcia Vega, P.A. has assisted Florida families and business persons for over 17 years. Our firm has worked with over 400 similar law firms located in states outside of Florida to represent their clients in legal matters concerning Florida probate, estate planning, and asset protection. To schedule a meeting, call (305) 556-5209 or (954) 566-1151, or email info@raricklaw.com. We look forward to meeting you!
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