PT - JOURNAL ARTICLE AU - Trent S. Kiziah TI - Family Limited Partnerships AID - 10.3905/jwm.2007.684875 DP - 2007 Apr 30 TA - The Journal of Wealth Management PG - 10--15 VI - 10 IP - 1 4099 - https://pm-research.com/content/10/1/10.short 4100 - https://pm-research.com/content/10/1/10.full AB - Recent court cases have demonstrated that taxpayers are losing valuable estate tax discounts because they have failed to follow seven fundamental rules during the formation and operation of their family limited partnerships. In this article, the author discusses the seven fundamental rules which can prevent mistakes costing millions of dollars in estate taxes. He starts with an example in which liquid stocks are converted to a less liquid investment by use of a family limited partnership. He then proceeds through seven rules to illustrate potential problems and possible solutions.TOPICS: Wealth management, real assets/alternative investments/private equity, legal/regulatory/public policy, risk management