Business entities such as Limited Liability Companies and Limited Partnerships are a great fit with many families’ estate plans. These entities can function as asset protection vehicles or as wealth transfer structures. A typical scenario in which these vehicles are used is where a family has a need to diversify its investment holdings or manage its risk and liability exposure. Additionally, these entities are ideal ways to enable a family to participate in its financial future as a family unit instead of as a group of individuals.
With family entities such as Family Limited Liability Companies and Family Limited Partnerships, it may be possible to:
