Planning is essential to avoid conservatorship proceedings, implement your wishes for personal and health care, and ensure proper management of your property. More Details

Identity thieves can empty your bank account, max out your credit cards, open new accounts in your name, and purchase furniture, cars, and even homes on the basis of your credit history. And all you'll get for their efforts is the headache and expense of cleaning up the mess they leave behind. More Details

An FLP, short for family limited partnership, is a business entity known as a limited liability partnership formed by family members only. All limited liability partnerships, including FLPs, have two types of partners: (1) general partners who run the business and whose assets are exposed to business creditors, and (2) limited partners who have no say in how the business is run but whose personal assets are generally shielded from business creditors. More Details

An FLP, short for family limited partnership, is a business entity known as a limited liability partnership formed by family members only. All limited liability partnerships, including FLPs, have two types of partners: (1) general partners who run the business and whose assets are exposed to business creditors, and (2) limited partners who have no say in how the business is run but whose personal assets are generally shielded from business creditors. More Details

The IRS has often challenged FLPs, contending they were created solely for the purpose of avoiding estate tax. The tax courts have generally rejected these challenges, recognizing that most FLPs are formed for legitimate business purposes. But lately, the IRS has had some success in the courts. Although this recent success has been touted as the FLP's death knell, it has in fact provided
guidance on how an FLP can survive an IRS challenge. More Details