Download or read book Wealth Planning with Family Limited Partnerships and Limited Liability Companies written by Louis A. Mezzullo and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: ...covers the following topics: Income and transfer tax considerations and nontax considerations relating to the formation, operation and termination of family limited partnerships and limited liability companies (LLCs); The goals of family members in establishing limited partnerships and LLCs; The various techniques available for reducing or eliminating transfer taxes, and the income tax rules pertaining to the recognition of an entity as a partnership for federal income tax purposes; Valuation issues, including the various discounts or premiums that may apply to transfers of interests in limited partnerships and LLCs and the special valuation rules under Chapter 14 as they apply to family limited partnerships and LLCs; The validity of a partnership or LLC formed for the purpose of holding marketable securities and the Internal Revenue Service's challenges to valuation discounts; The availability of the annual exclusion for transfers of interests in family limited partnerships and LLCs and the potential inclusion of transferred interests in the transferor's estate; The issues involved in choosing the appropriate entity for holding family assets, including marketable securities, real estate, and operating businesses with a detailed discussion of the desired characteristics of the family business entity; The issues involved in forming and liquidating the entity, including the potential application of the anti-abuse regulation under the partnership rules, tax-free formation treatment, and classification of the entity for federal tax purposes; The issues that should be considered when drafting the limited partnership agreement or operating agreement; The business and other nontax reasons for a family to use a limited partnership or LLC to hold family investments and operating businesses.
Download or read book An Estate Planner s Guide to Family Business Entities written by Louis A. Mezzullo and published by American Bar Association. This book was released on 2003 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Providing the necessary background for lawyers and financial planners to accurately advise clients on transferring wealth through the establishment of a business entity.
Download or read book The Family Limited Partnership Deskbook written by David T. Lewis and published by American Bar Association. This book was released on 2007 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: Forming and funding a family limited partnership or limited liability company is both increasingly common and complicated. This current, comprehensive reference provides in-depth analysis of all facets of using these planning vehicles. It begins with detailed guidance on the basic principles of drafting, forming, funding, and valuing an FLP or LLC, but also covers advanced income tax concerns. Added tools include examples and extensive sample forms on CD-ROM.
Download or read book How to Use Limited Liability Companies and Limited Partnerships written by Garrett Sutton and published by . This book was released on 2004 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Designed for entrepreneurs and individuals interested in starting their own business, this book provides an indepth study of how the special characteristics of limited partnerships and limited liability companies may be used to your advantage and to assist you in protecting assets, managing wealth and strategic estate planning to minimize taxes. It features strategic uses of limited liability companies and limited partnerships to hold real estate and other assets, how to easily manage and operate a limited liability company or limited partnership, how to creatively plan for your future and your family's future, and how to follow the rules to keep your assets protected."--Publisher description.
Download or read book Family Limited Partnerships Limited Liability Companies in Estate Planning written by and published by . This book was released on 2003 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Estate Planning with Family Limited Partnerships and Limited Liability Companies written by Institute of Continuing Legal Education (Mich.) and published by . This book was released on 1995 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Estate Planning with Family Limited Partnerships and Limited Liability Companies written by Institute of Continuing Legal Education (Mich.) and published by . This book was released on 1997 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Tax and Financial Planning for the Closely Held Family Business written by Gary A. Zwick and published by Edward Elgar Publishing. This book was released on 2019 with total page 566 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tax and Financial Planning for the Closely Held Family Business serves as a manual to help business advisers devise strategies for clients dealing with family issues. Guiding family businesses through the complex maze of organizational, tax, financial, governance, estate planning, and personal family issues is a complex, time-consuming, difficult, and sometimes emotional process. This book focuses not only on identifying the problems family businesses face, but on devising solutions and planning opportunities for both family businesses and their owners. Each chapter of this book contains creative planning opportunities that advisers can suggest and help implement in order to solve real problems in the family business.
Download or read book Practical Estate Planning Opportunities written by Pennsylvania Bar Institute and published by . This book was released on 1999 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Last Gasp Estate Planning written by Walter D. Schwidetzky and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Family limited partnerships have been popular gift and estate tax planning vehicles for many years. In recent years, family limited liability companies (LLCs) have also become common, particularly in those states that have updated their statutes to take the check-the-box regulations into account. LLCs with more than one member are usually classified as partnerships for federal income tax purposes. In a typical structure, when there is adequate planning, the donors form a limited partnership or an LLC (jointly, 'family limited liability entity' or FLLE), to which they contribute assets expected to appreciate in value. This article will focus on such use of FLLEs as found in the Strangi case and offer proposals for reform.
Download or read book Starting a Limited Liability Company written by Martin M. Shenkman and published by John Wiley & Sons. This book was released on 2003-03-31 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: With Starting a Limited Liability Company you’ll learn how an LLC can work for you and exactly what you need to do to set up and operate one. The updated second edition features completely revised and updated planning strategies, and new chapters on the one-member liability company, estate planning, home businesses, and more. You’ll also find: Expert guidance on applying LLCs to operating a business, estate planning, protecting assets, real estate acquisitions, professional practices, avoiding ancillary probate, and venture capital operations Plans and strategies for converting partnerships into LLCs and combining LLCs and trust planning A detailed glossary, along with checklists and loads of sample legal forms that simplify the process
Download or read book Comparison of Entity Choice in Texas Estate Planning written by Alan K. Davis and published by . This book was released on 2005 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Effective Use of Family Limited Partnership limited Liability Companies in Tax and Estate Planning written by and published by . This book was released on 1995 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cutting Edge Estate Planning Vehicles written by Pennsylvania Bar Institute and published by . This book was released on 1995 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Section 2036 Hurdle Raised for Family Limited Partnerships written by Reed W. Easton and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Family Limited Partnerships ("FLPs") and Limited Liability Companies ("LLCs") are commonly used in estate planning to transfer real estate, marketable securities or other assets to family members with valuation discounting used in determining the gift or estate tax consequences. Parents retain control over their assets under the terms of the FLP or LLC agreement while reducing the potential estate tax applicable thereto through the use of valuation discounts attributable to the FLP or LLC interests. Recently, the IRS has been aggressively using Section 2036 in estate tax cases to attack the FLP and LLC strategy for valuation adjustment. A new decision overshadows all the former decisions in its expansive interpretation of Section 2036 (a) (2). This article will look at that decision Estate of A. Strangi TC Memo 2003-145 (May 20, 2003) (i.e. "Strangi II") and identify possible practitioner responses. These possible responses will address current estate planning as well as what the practitioner might do with existing FLPs/LLCs and in the event of a gift or estate tax return examination. Lee Iacocca has been quoted as saying - "We are continually faced by great opportunities brilliantly disguised as insoluable problems." This article is directed to identifying those available opportunities. The FLP/LLC Technique has been around for more than eight years and now the retention of control may avoid any possibility of a valuation discount. Should bad facts be allowed to make bad law? What is the effect of Strangi II on future estate planning? Those parents who already have existing FLPs/LLCs have available alternatives to choose from. What does the new Strangi II decision mean prospectively to the practitioner and his or her clients?
Download or read book Comparison of Entity Choice in Ohio Estate Planning written by Mario J. Fazio and published by . This book was released on 2005 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Comparison of Entity Choice in Georgia Estate Planning written by Cassady V. Brewer and published by . This book was released on 2005 with total page 530 pages. Available in PDF, EPUB and Kindle. Book excerpt:
