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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) 992-9662 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 questi”
    Betty P.
    “Patient with my difficulties.”
    “It's been a pleasure to work with Rebecca Sallen for her in opening up my trust. Rebecca is so patient with my difficulties and she worked so diligently. All work was done in such a timely fashion that I can't wait until the next time I have to work with h”
    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. Rebecca was professional, caring, and thoroughly explained the ins and outs of my options. She asked good questions and helped me consider all my choices. When the ti”
    Heather - Philadelphia, PA
    “A genuine approach to understand your needs.”
    “Rebecca takes a genuine approach to understand your position and particular needs and provides pragmatic advice to help resolve the matter at hand. She assisted me in dealing with very complex estate legal matters and offered several potential solutions fo”
    Adam - Bala Cynwyd, PA
    “I recommend her strongly.”
    “I asked an acquaintance if she could steer me to a humane lawyer for estate planning, someone interested in the person, not just the assets. Rebecca fits the bill. She is empathetic, probes to find what really matters to you, and constructs documents that ”
    Anonymous
    “Rebecca is simply outstanding.”
    “We were referred to Rebecca Sallen from a friend who is an attorney in order to finish our estate planning. Rebecca is simply outstanding. She takes the time you need to understand a complicated process. Estate planning is not an easy subject to understand”
    Ivy - Lafayette Hill, PA

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) 992-9662. 

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  • A Client-Centered Firm
    Sallen Law believes in putting clients first. It shows in the manner in which we handle estate planning matters.
  • Inclusive in All Facets
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    Attorney Sallen spends individual time with every client to understand the unique needs of clients and their families.