Limited Partnerships on the Rise Wealth transfer and estate tax planning are central issues for any business person these days. Families are accumulating wealth at astonishing rates due to the rise in the stock market, stable real estate prices, and the general expansion of the economy.
Auto dealers are no exception.
The emergence of the public companies has further intensified the focus on the need for estate planning. Any number of planning mechanisms have surfaced in recent years to avoid the estate tax. Among the more common are gifting of assets, the use of various trusts, and the family limited partnership. Limited partnerships serve many legitimate business needs for both family and non-family business relationships. Over the past two years we have performed hundreds of appraisals of limited partnerships comprised initially of family members.