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A partnership's definition requires 'two or more partners.' However, a corporation or LLC owned by the individual can become the ...
Usually, spouses transfer most of their assets to the FLP. The spouses, as general partners, would share control. They may own ...
The short answer is that a limited partnership interest cannot be claimed by the debtor-partner's creditors. The creditor can only ...
A family limited partnership (FLP) is a limited partnership (LP) owned by family members, or family controlled entities (trusts, ...