Family Limited Partnership Planning For Your Future

Family Limited Partnership Attorneys in Montgomery County

Also Serving Philadelphia County, Merion Station, Lower Merion, The Main Line and Surrounding Areas

Do you have a family business? Does your family own property or have a large amount of wealth that you would like passed on to future generations? In these cases, you may want to consider obtaining a family limited partnership, or FLP. Family limited partnerships are great tools to help protect your assets and provide exemptions from costly taxes.

At Sallen Law, our Merion Station family limited partnership lawyer helps clients determine if a family limited partnership or another type of trust may be right for them. We are prepared to work alongside professionals you may already have on your team, such as financial advisors or accountants, to ensure that we are providing you with a plan that addresses all your needs.

If you are interested in safeguarding your family’s property and assets, contact our office today at (215) 809-3900 for a free phone consultation.

What Is a Family Limited Partnership?

Family limited partnerships are a form of trust that is established by an individual or married couple (named the general partners) that can then grant limited partnership to children or other family successors. These partnerships can help avoid extensive taxes on estates or gifting, and seamlessly move the estate and assets into control of the successor, thus avoiding probate.

There are additional benefits to obtaining an FLP, including:

Protecting the assets named in the FLP from the partner’s creditors
Assets can be efficiently divided among family members
Allowing businesses to remain fully operational while training future generations for takeover of the business
Limiting the complications of business inheritance and partnerships

Hear From Our Happy Clients

At Sallen Law, LLC, your satisfaction is our priority! See for yourself what our clients have to say about working with us.

“My experience working with Rebecca exceeded all my expectations.”
For me, the task of preparing a will and health directive was a necessary but uncomfortable and overwhelming task that I put off for too long. Rebecca eased my anxieties and made the planning discussions and decisions easy to understand, with all my questions and concerns thoroughly addressed. Rebecca's professionalism, caring approach and knowledge led to a great experience. I highly recommend Sallen Law, you won't be disappointed.

Betty P.
“Patient with my difficulties.”
“It's been a pleasure to work with Rebecca Sallen for her in opening up my trust.”

Amy D. - Philadelphia, PA
“Explained the ins & outs of my options.”
“During a pandemic, you realize that there's no time like the present to plan your estate.”

Heather - Philadelphia, PA
“A genuine approach to understand your needs.”
“You can trust Rebecca to give you the confidence that you need when faced with a difficult situation.”

Adam - Bala Cynwyd, PA
“I recommend her strongly.”
“She is empathetic, probes to find what really matters to you, and constructs documents that reflect your values.”

Anonymous
“Rebecca is simply outstanding.”
“We feel very secure knowing that we have a comprehensive "living document" document that covers our current and future needs.”

Ivy - Lafayette Hill, PA

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Establish a Family Limited Partnership with Sallen Law

If you have questions or concerns regarding a family limited partnership, or if you are a business owner looking to prepare for the future, we encourage you to contact Sallen Law right away.

For more information on how we can help, call us today at (215) 809-3900.

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