Family Limited Partnerships/LLCs

Experienced Estate Planning and Business Lawyers

A family limited partnership (FLP) or family limited liability company (FLLC) can be an extremely effective business tool. These entities allow the owner to bundle assets for business purposes, which can ultimately have favorable estate and tax savings implications.

The attorneys of Humphrey, Farrington & McClain can help you understand these options and help you determine whether these are appropriate tools for your circumstances. We focus our practice on business law and estate planning, making us uniquely positioned to handle family limited partnership matters, as they arise at the intersection of these two practice areas.

Contact us today to schedule a confidential consultation. From offices in Independence, Missouri, we serve clients throughout the greater Kansas City area.

We Can Help You Realize the Benefits of Family Limited Partnerships/LLCs

Family Limited Partnerships and Family Limited Liability Companies are commonly used to manage real estate holdings. By forming one of these business entities, the property owner can effectively use and protect these assets.

Under certain circumstances, an FLP or FLLC can protect assets from creditors and can ensure ongoing family ownership of assets. An FLP or FLLC can allow the owner to transfer assets to other family member, while maintaining ultimate control of the property.

There is no simple formula that works for every business venture. Our lawyers can effectively customize solutions that will work for you. We provide individualized attention so that we understand your individual concerns and can develop an effective plan for the management of your property and assets. We have the knowledge and experience to effectively craft a family limited partnership that meets your needs.

Contact us today to schedule a confidential consultation regarding family limited partnerships and other business strategies.