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.
Overview of Life Estates
Overview of Life Estates
Establishing a Life Estate is a relatively simple process in which you transfer your property to your children, while retaining your right to use and live in the property. Life Estates are used to avoid probate, maximize tax benefits...
Overview of the Ways to Hold Title to Real Property
Overview of the Ways to Hold Title to Property
You are purchasing a home, and the escrow officer asks, “How do you want to hold title to the property?” In the context of your overall home purchase, this may seem like a small,...