The Best Laid Plans Sometimes Go Alright.

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This post covers a recent case holding that a family limited partnership was validly formed despite some flaws in the formalities due to the sudden death of the decedent. It suggests that a FLP may be rescued even if it is not entirely formalized prior to death. While not a planning technique, it is something to keep in mind.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© James R. Malone, Jr., Post & Schell, P.C. | Attorney Advertising

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