Close

Asset Protection

Family Limited Partnership: F.A.Q.

Should you have a family limited partnership

A Family Limited Partnership (“FLP”) is a structure that is known for two main purposes: asset protection and tax minimization. Its ability to handle both of these important wealth generators puts it in the running as one of estate planning’s most valuable tools, if implemented and maintained properly. Below, you will find some frequently asked questions that we receive from our clients regarding FLPs. (1) What is an FLP? An FLP is a limited partnership in which all the partners are family members or entities created by or owned by family members. A limited partnership is a business entity that […]

Read More

Protecting Investment Property From The Rush Of Vacationers

Stewart Law, Asset Protection Vacation Homes

In today’s litigious society, we often have clients calling us and asking for advice on how to protect themselves and their assets from creditors and lawsuits.  Many worries stem from concerns over rental properties and vacation homes (including toys such as jet skis) owned by our clients. There are several techniques that can help the owner of a vacation home relax whenever he rents out the house to vacationers. Often an important starting point is the use of a Limited Liability Company (“LLC”). Below, we highlight some major aspects. Reduced Liability This is a big one. Imagine someone is staying […]

Read More