What is a family limited partnership (FLP)?
Quick Answer
A family limited partnership (FLP) is a partnership holding family assets where parents typically retain a small general partner (GP) interest with control and gift limited partner (LP) interests to children — claiming valuation discounts of 25–40%.
Warren Team
Updated December 25, 2025
39
Warren Team
Updated December 25, 2025
39
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The information provided is for educational purposes only and should not be considered as personalized financial advice. Warren is a registered investment advisor. Past performance does not guarantee future results. Please consult with a qualified financial advisor before making investment decisions.
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