Key Takeaways:
- A family limited partnership is a legal entity that allows for the organized transfer of assets within a family structure.
- Setting up a family limited partnership can help reduce the overall value of an estate, potentially lowering estate tax implications.
- Income and losses can be allocated to different family members, taking advantage of lower tax rates.
- It is important to work with an attorney and tax advisor to properly set up and manage a family limited partnership.
Chapters
| **Timestamp** | **Summary** |
| ------------- | ----------- |
| 0:00:01 | Introduction to the podcast |
| 0:00:13 | Disclaimer about the information presented |
| 0:00:48 | Phillip and Alison discuss tax benefits |
| 0:01:35 | Introduction to family limited partnerships |
| 0:03:40 | Benefits of family limited partnerships |
| 0:05:46 | Allocation of income in a family limited partnership |
| 0:06:46 | Difference between family limited partnerships and family trusts |
| 0:07:50 | Contact information for Alison |
| 0:08:58 | Conclusion and closing remarks |
| 0:09:21 | Disclaimer about the information presented |
Powered by ReiffMartin CPA and Stone Hill Wealth Management
https://www.reiffmartincpa.com/
https://stonehillwealthmanagement.com/
Join the Wealth Building Made Simple Newsletter: https://www.wealthbuildingmadesimple.us
Social Media Handles
Follow Philip Washington, Jr. on Instagram (@askphillip)
Subscribe to Wealth Building Made Simple newsletter (https://wealthbuildingmadesimple.us/subscribe/)
Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Investing: ”How do interest rates affect investment returns?”
Ethereum: The ”Apple Operating System” of Web 3 (Bonus episode)
2023 Tax Strategies for Investors
Investing: Alternatives to saving inside college savings plans
Real Estate: Is the market on the brink of a crash?
Reap the benefits of alternative retirement strategies
Investing: Navigating the Future Economy with Clear Understanding
Business: Planning for a stress-free tax season
Real Estate: Navigating potential rental regulations
Bitcoin Mining: A New Solution for Affordable Housing
A New Era of Knowledge: Exploring the Evolution of the Knowledge Economy
Data is the ”oil” in the new digital economy
The Truth about Money
The Building Blocks of the New Economy
Real estate: Designing cities around the new digital nomad generation
About Mansfield Podcast appearance: ”The use of artificial intelligence in healthcare”
The advantages of investing in innovation
Business: Navigating layoffs, talent shortages, and artificial intelligence
Wealth Mindset: Our Wealth mirrors our level of Faith in Abundance
Real Estate: The $28 Trillion in equity and ideas around what Americans can with that money
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
U.S Property Podcast
Aligned Money Show
Dubai Property Podcast
The Ramsey Show
The Clark Howard Podcast