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If you have clients who are small-business owners, you're probably familiar with some of the challenges founders face when ceding control to their kids. But what's at stake for clients who are designated as successors?
Suppose your client is verging on retirementbut not quite ready to cede control of his business to his kids. How can you help him move a chunk of the business out of his estate?
An FLP is a family partnership, whereas an LLC awards investors the same limited-liability advantages that are enjoyed by corporate shareholders. Help your clients select the right form.
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