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About the Book
This fully revised and updated edition of The Family Limited Partnership Deskbook addresses the need for a current, complete reference source for practitioners who want to understand and comply with both formal and substantive requirements in the creation and administration of FLPs and LLCs. This comprehensive guide provides in-depth analysis of all facets of these planning vehicles.
The Family Limited Partnership Deskbook provides thoughtful and detailed knowledge on the basic principles of drafting, how and when to form and fund an FLP or LLC, and the fundamental principles used in valuing FLP and LLC interests that are to be transferred. The authors also examine the most advanced income tax concerns, including special allocations of and adjustments to basis, and the taxation of non-liquidating and liquidating distributions.
Useful for lawyers and planners with all levels of understanding and expertise in the area, this invaluable guide offers clear examples of principles involved with these vehicles as well as the practical applications of these techniques. It also considers important recent court decisions affecting FLPs and LLCs, including the lessons that can be learned from the Strangi cases. Adding to the book's value are examples throughout that illustrate points made in the text plus extensive sample forms that are also included on a CD-ROM that accompanies the book.
