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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

4. General Partners in a Limited Partnership

General partners control the company's day-to-day operations and take on the legal debts and obligations of the business. In other words, they run the business. Because they are responsible for any debts or lawsuits incurred by the company, general partners often form corporations or LLCs to protect themselves from liability.

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