A Family Limited Partnership (FLP) is a powerful tool that you can use in estate planning. An FLP can protect you from outlandish lawsuits, liability claims are false in nature and general litigation is not your fault.
Lawsuits have more than doubled over the last 30 years. The legal profession has grown because so many people trying to sue each other for stupid things that are not even legitimate, and they won at an alarming rate. America is called "State Litigation" and the effects of this attitude on suing are driving people to the poor house. You can check out estate planning attorney Chandler for getting the best estate planning services.
You can build a real plan through a Family Limited Partnership and thereby get around inheritance tax. It's a shame that most people get a tax when they inherit the property or assets of the loved ones who died. This is definitely not comfortable dealing with the probate court on anything about the estate tax.
The first rule is to make your plans with a lawyer with expertise in this field. Most lawyers do not like to deal with estate planning because it means that they have to read about past cases. Most lawyers will tell you that Family Limited Partnership nothing wrong.
Estate planning without an asset protection plan is a waste of time. It's best to find out what kinds of benefits are available when you do a real plan. Many lawyers do not like to combine them but more people are starting to get information that will help them understand what the real plan, and how an FLP can be used to protect assets.