Creating a family limited partnership allows business-owning parents to transfer their company to their children (thus lowering their estate taxes) while still retaining control over it for themselves.

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Creating a family limited partnership is a common estate planning strategy that allows business-owning parents to transfer their company to their children while still retaining control over it for themselves. This helps them to lower their estate taxes and provides a way to pass their business down to future generations.

Creating a Family Limited Partnership Allows Business-Owning Parents to Transfer