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Family Limited Partnership

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Family Limited Partnership (FLP): An Overview

An FLP is a specialized estate planning tool that has recently gained renewed interest.

Here’s what high-net-worth individuals and families need to know:

  • Tax Changes: As of now, the estate tax exemption will significantly decrease after 2025. This change means many more estates will be subject to taxation.
  • Preserving Wealth: With these tax changes on the horizon, it’s more crucial than ever to preserve your family’s legacy.
  • FLP Benefits: An FLP can help you in maintaining continuity in your estate, minimizing taxes, reducing liability, and keeping your estate matters more private.
  • Our Services: Peabody Law Firm can create all necessary documents for an FLP, provide estate and income tax forecasting, and offer ongoing support for trustees.

TRUSTEE SERVICES

We understand that wealth management requires careful planning and personalized solutions. Here's what our Trustee Services offer:

  • Personalized Service: If you need a third-party trustee, we can step in. Whether for an existing trust or a new one, our experienced trust attorneys might be a better fit than a corporate trustee or bank.
  • What We Provide: Our comprehensive services include quarterly statements, financial analysis, organization tools, and customer support, all customized to your needs.
  • In-Person Meetings: If you're interested in our Trustee Services, we'll arrange a face-to-face meeting to discuss everything involved.
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The bottom line:

The upcoming changes in estate taxation make it essential to consider tools like the Family Limited Partnership. Our services at Peabody Law Firm are designed to help you navigate these complex issues, preserving your family’s wealth and legacy. If you’d like to explore these options further, please call us to set up an appointment. We’re here to provide tailored solutions that fit your unique needs and objectives.

Let us help you with your FLP >

Get started on your Estate Plan today.

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About Peabody Law Firm

Peabody Law Firm, PLLC focuses in Estate Planning, Probate and Business Services.

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