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Family Limited Partnership |
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The FLP is a legal, formally established business entity that can be the owner of life insurance, family vacation property or most other assets. A limited partnership consists of general partnership interests and limited partnership interests. An FLP is typically structured with the general partnership portion holding less than 5% of the total value of the assets of the partnership, with the limited partnership holding the balance. Partnerships are very flexible and generally have many additional tax benefits compared to other entity structures. PPG will file all the paperwork for you through our independent law firm that will create your agreement. Contact us for your free
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Family Limited Partnership (FLP) 