What is a family limited partnership (FLP)?
Personal FinanceWarren Team
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%.
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. Read our disclaimers.
All questionsGet an answer built on your own numbers
Warren reads your accounts, then answers questions like this one with your real income, taxes and goals in mind.