Limited Partnership
The Family Bank
The Family Bank What is a Family Bank? Well, to start, it’s important to understand why a Family Bank may be useful. Why a Family Bank? Most families who have worked hard to accumulate wealth share a concern for the long-term welfare of their offspring. They want them to have security and at the same…
Read MoreFraudulent Conveyance
What is a Fraudulent Conveyance? First, a fraudulent conveyance has nothing to do with “fraud” per se. A fraudulent conveyance is an asset transfer that is voidable. In other words, the transfer can be undone or clawed back in order to satisfy a creditor’s claim. “Clawing back” a transaction is like pulling a nail out…
Read MoreBusiness Limited Partnership
Business Limited Partnership vs. Family Limited Partnership For many years the “Family Limited Partnership” has been used an both an estate planning and asset protection tool. There have been a number of catastrophic failures of such entities. Most often, the reason for the failure is the absence of a business purpose or a failure to…
Read MoreLimited Partnership – Legal Services
Limited Partnership (LP, LLP, LLLP) With rare exceptions, when we form a LP, we prepare complete documentation as needed for the LP to operate, function, and carry out its intended business purposes. Often, a Business Limited Partnership will operate as a “Family Bank” and serve as a parent entity to own other assets and subsidiary…
Read More