Perspective
Mar. 23, 2016
IRS continues to battle an important estate planning tool
Family limited partnerships continue to be a powerful tool of both estate tax planning and asset protection planning. By Bruce Givner and Owen Kaye
Family limited partnerships (FLPs) continue to be a powerful tool of both estate tax planning and asset protection planning. The latter was strengthened by California's repeal of its original LLC act - the Beverly-Killea Limited Liability Company Act (1994) - and the Jan. 1, 2014, effective date of the Revised Uniform Limited Liability Company Act. Old Corporations Code Section 17302(c)(2) allowed another member of...
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