A family limited partnership resembles a will and contains instructions for managing personal assets.

Name: A family limited partnership resembles a will and contains instructions for managing personal assets.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A family limited partnership is a form of business ownership structure used to manage and control a family business or assets, not to provide instructions for managing personal assets after death like a will does.

A Family Limited Partnership Resembles a Will and Contains Instructions