Family Limited Partnership Agreement Template
Family Limited Partnership Agreement Template
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This Family Limited Partnership Agreement Template can be used among family members to split income from a business or other income generating asset (e.g., stocks, bonds, real estate, etc.) among themselves. This template can also be used as a means to transfer wealth among family members and reduce the impact of transfer taxes. Because the IRS scrutinizes Family Limited Partnerships very closely, it is extremely important that an attorney review before executing.
This template was last updated: May 2021.
Be sure to complete all applicable sections, remove all commentary, and consult a local attorney before executing!
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