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Financial Planning
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Families utilize limited partnerships
Family limited partnerships have become an important tool in estate and gift-tax planning for family-owned businesses. These entities reconcile many of the tensions which normally exist in succession planning.
While reduction of assets subject to death taxes is a primary goal, the parent-donor often wishes to maintain control over the business. There may also be a need for continued access to cash flow generated by the business. A properly structured family-limited partnership can accomplish these goals... READ MORE
Ten great ways to get more value from your lawyer for less money
1. If You Don't Know That Life Involves Risks, Sell Your Business. Business requires taking risks; managing these risks successfully is how to best increase profits. Some lawyers do no more than rub their chins and say, "Well, this would be a risk," as though that is helpful advice. Don't accept or pay for that level of meaningless help... READ MORE
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