Training the Next Generation Through a Family Limited Partnership

Dave and Eleanor Watson headed up a family of four children, nine grandchildren, and two great grandchildren. Their success in life had enabled them to amass a modest fortune that they hoped would benefit their family for future generations. They established a family limited partnership to manage their wealth. Dave and Eleanor also hoped their family limited partnership would help train the next generation in Read More

Family Limited Partnership: A Few Pros and Cons

Families often share homes, vacations, holiday traditions, and fond memories. Sharing a business, though, is more complicated than shutting down the summer cottage together or planning next year’s family reunion. One type of family business is called a family limited partnership. It’s not just a business entity, though. It can be a powerful estate planning tool. Keeping it in the Family. A family limited Read More