Family limited partnerships are a way for families, particularly ranchers and farmers, to manage landholdings and family business ventures in a way that can ensure that the assets held by the family, stay in the family. This type of entity is an effective tool in succession planning to begin transferring the business to future generations while maintaining control for the founding owners. At Costello Porter, our attorney’s have the knowledge and experience necessary to help families use a family limited partnership to accomplish their goals.
