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Online Asset Protection Quiz.

If I own a limited partnership interest in a limited partnership but do not control the profit distributions, couldn't I then lose those profit distributions?

It's true that you can't as easily frustrate a creditor when you own a minority interest in a limited partnership that has outside investors and an unaffiliated general partner whose interests and agenda don't necessarily coincide with your own as the debtor-partner. Should the partnership generate and distribute substantial profits, the charging order creditor would receive your distributions. The debtor-partner's option then is to sell or encumber his partnership interest, or alternatively title the limited partnership interest to another protected entity, such as another limited partnership that would be under the control of the debtor-partner.

Categories: Asset Protection
The Presser Law Firm, P.A. - Asset Protection Attorney
Located at 6199 N. Federal Highway Boca Raton, FL 33487. View Map
Phone: (561) 953-1050