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Estate Planning with Business Entities In the context of estate planning for family businesses or investments, these
vehicles are often referred to as “family limited partnerships” (FLPs) or “family limited liability companies”
(FLLCs), although the word “family” has no actual legal meaning. These vehicles are used primarily
because of the valuation discounts that they provide for estate and gift tax purposes and the limited liability they create for
their owners. Our office will work with your accountant and financial advisor or planner in order to coordinate the effort
of drafting LP, LLC, or corporate formation documents; preparing and filing the required state organizational forms; selecting
and transferring assets to the entity; and interacting with appraisers and other advisers. Important note: like most estate planning techniques, the creation of an
LP, LLC, or corporation is not an appropriate strategy
for everyone. Our office will consider each client’s situation carefully before taking a course of action. Give us a call at (650) 329-9500
if you would like more information on estate planning with business entities.
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