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Limited partnerships (LPs) are a specific type of business structure that consists of at least one general partner and one or more limited partners. The general partner typically assumes full ...

Master limited partnerships (MLPs) are limited partnerships that are publicly traded on exchanges and combine the tax benefits of a limited partnership with the liquidity of a publicly traded security ...

A family limited partnership is a highly customizable vehicle for generational wealth transfer. The FLP and its close cousin, the family limited liability company, are entities that may be used in ...

Historically, CPAs have dissuaded estate planning clients from funding family limited partnerships with personal use property, such as a primary or secondary residence. In the past the IRS has ...

<div class="Section1">Current cash distributions (i.e., not in liquidation of a partner&rsquo;s interest) that are not in excess of the partner&rsquo;s adjusted basis ...