TY - JOUR T1 - Family Limited Partnerships JF - The Journal of Wealth Management SP - 10 LP - 15 DO - 10.3905/jwm.2007.684875 VL - 10 IS - 1 AU - Trent S. Kiziah Y1 - 2007/04/30 UR - https://pm-research.com/content/10/1/10.abstract N2 - 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 ER -