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Home | Business Formations | Limited Partnerships

Limited Partnerships

1.	Definition of a Limited Partnership
2.	Reasons for Creating a Limited Partnership
3.	Definition of a Family Limited Partnership
4.	General Partners in a Limited Partnership
5.	Limited Partners in a Limited Partnership
6.	Advantages of a Limited Partnership
7.	Disadvantages of a Limited Partnership
8.	Taxing Limited Partnerships
9.	Family Limited Partnerships
10.	Setting up a Family Limited Partnership
11.	Partners in a Family Limited Partnership
12.	Taxing a Family Limited Partnership
13.	Assets in a Family Limited Partnership
14.	Estate Tax Credits and Family Limited Partnerships
15.	Advantages of Family Limited Partnerships
16.	Family Benefits from Family Limited Partnerships

2. Reasons for Creating a Limited Partnership

In recent years, the limited partnership or LP has become an increasingly popular choice for businesses—especially those involved in real estate or other investment ventures. The main reason is that unlike general partnerships, limited partnerships (as the name suggests) have the ability to limit both the liability risk and the business involvement of certain partners known as "limited partners." This feature is particularly useful for attracting investment partners who'd like to participate in the profits of the business but not necessarily its risks or daily operations.

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