This week Brent and Rachel introduce family limited partnerships (FLPs). They discuss the basics, how FLPs have been used historically in planning for high net worth families, how they are treated for tax purposes, current law around FLP’s efficacy, and how to use FLPs under the current IRS attacks. The discussion is high level, and there are many nuances to FLPs not covered in this episode. But, the listener should get a general understanding of FLPs and how they function. Enjoy!
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