Help! I’m Stuck in My FLP!
Not all families have the same concerns and objectives, and FLPs vary in their design and asset mix; as a result, no one solution will fit all families. Because of the current historically large use-it-or-lose-it applicable exclusion, families who wish to retain the benefits of their FLP while reducing the administrative downsides may find a solution through use of a properly designed irrevocable trust, funded by a member of the SG with FLP interests received through lifetime gifts from the YG.
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