Meurer Law Offices, P.C., serves clients in Denver, Greenwood Village, Centennial, Aurora, Littleton, Englewood, Arvada, Westminster, Broomfield, Parker, Castle Rock, Lone Tree, Sheridan, Elizabeth, Kiowa, Lakewood, Parker, Highlands Ranch, Denver County, Arapahoe County, Adams County, Douglas County, Jefferson County, Colorado.
Estate Planning Services
Family Limited Partnerships And Limited Liability Companies
Family Limited Partnerships (“FLP”) and Limited Liability Companies {“LLC”) allow you to reduce estate taxes by transferring assets such as a family business, farm, real estate, or stocks to your children now and still keep some control. They can also protect the assets from future law suits and creditors. With a FLP or LLC you and your spouse can transfer assets into the entity. In exchange you receive an ownership interest. Although you have a fiduciary obligation to the other owners, you control the FLP as the general partner or the LLC as the manager. You can gift ownership interests to your children, which removes value from your taxable Estate. This interest cannot be sold or transferred without your approval, and because there is no market for these interests, their value is often discounted. This allows you to transfer the underlining assets to your children at a reduced value without losing control.
This strategy benefits are as follows:
1.
It allows you to start transferring assets to children
now to reduce your taxable estate.
2.
It often discounts the value of the business, farm,
real estate, or stock as there is no market.
3.
You can protect assets from future law suits
including ex-spouses.
4.
You maintain control.
Meurer Law Offices
5347 S. Valentia Way, Suite 220
Greenwood Village, Co. 80111
303.991.3544
Estate Planning Attorney
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