Revisit Your Buy-sell Agreement in Light of the U.S. Supreme Court’s Connelly Decision
Buy-sell agreements are essential estate and succession planning tools for many family businesses and other closely held companies. These agreements, among other things, ensure that the business stays within the family or other ownership group.
Typically, this is accomplished by providing that if an owner dies or leaves the...
Understanding the ins and outs of a Family Limited Partnership
A family limited partnership (FLP) is an estate planning tool that offers various benefits. These include centralized management of family assets, the ability to transfer wealth without ceding control, reduced gift and estate taxes, income tax savings, and asset protection. Let’s take a closer look at how an FLP works.