FAMILY LIMITED PARTNERSHIP – A VIABLE ALTERNATIVE TO A TRUST?

Traditionally,wealthy families in the UK have used trusts to pass assets down through the generations in a tax efficient
and controlled manner. However, since 2006, changes to the Inheritance Tax (IHT) legislation in the UK have penalised the
use of trusts for estate planning purposes. As a result, families have been looking for alternative structures that will
mitigate IHT when passing wealth through generations and this has led to the emergence of the Family Limited
Partnership (FLP) as a possible alternative to trusts for family succession purposes.

Please click on the pdf icon below to open the full free document.