A limited partnership could be used to transfer a family-owned business to others in the family..

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A limited partnership can be an effective way to transfer ownership of a family business to other family members. In a limited partnership, the family members who want to retain control of the business can become general partners, while those who want a more passive ownership role can become limited partners. This allows for a smooth transition of ownership and management without disrupting the day-to-day operations of the business.

A Limited Partnership Could Be Used to Transfer a Family-Owned