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Overview of Corporations
Limited Liability Companies
Limited Liability Partnerships
Family Limited Partnerships
Irrevocable & Revocable Trusts
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Family Limited Partnerships

Limited partnerships are a popular way to shelter personal wealth and are widely utilized because the LP allows continued control over assets and protects wealth from lawsuits and creditors. The LP also can reduce gift and estate taxes.

The limited partnership (which is sometimes referred to as a family limited partnership or FLP) is a well-established entity, dating back to 1916 when the Uniform Limited Partnership Act was ratified. Its long history has demonstrated a level of stability, predictability and dependability for wealth preservation. The Presser Law Firm, P.A. organizes hundreds of family limited partnerships each year and never had a limited partnership fail to protect a client's assets.

To render your personal assets lawsuit-proof you have a choice of entities, each of which has individual characteristics and features that requiring careful consideration based upon your particular circumstances and the intended purpose of the entity.

If a limited partnership is to conduct an active business it must be evaluated in contrast to the sole proprietorship, LLC and corporation. If the goal is tax reduction, estate planning or Asset Protection, then the value of a limited partnership must be analyzed in contrast to different trusts, LLCs and alternative methods to safely title assets. Alternative entities are sometimes preferable to the limited partnership and all factors should be taken into consideration.