FLP

Family Limited Partnerships (FLP) can be used to own and manage property‚ in a similar manner to a Trust‚ but allowing additional tax planning techniques to be employed. FLPs are typically used for those who have large estates and thus have a need for specialized estate planning in order to minimize taxes as well as provide asset protection. The FLP is probably the most beneficial structure available for wealth preservation via asset protection‚ estate planning and tax minimization. FLPs allow you to legally and successfully protect everything you own from attack by creditors and erosion by exorbitant taxes. Furthermore‚ Arizona law provides that a charging order is statutorily the only remedy to creditors of partners of the FLP. This makes the FLP an ideal tool for asset protection.