Family Limited Partnership

Douglas L. Kaune

Practice Area:Estate Planning

Outcome:Successful

Description:Worked with client and her family to place two large parcels of property and natural gas and mineral rights running with the land into a Family Limited Partnership. These properties and the mineral rights were worth millions of dollars and presented a potentially large Federal Estate Tax liability for the family. The client wanted to reduce taxes and keep control of the assets. We were able to assist in doing both using the Family Limited Partnership.