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  • 1.  FLP for estate planning

    Silver Most Valuable Member
    Posted 09-26-2016 03:47 PM

    I have a client that has formed a FL FLP and it has a Corporation as the GP with the wife and husbands living trusts as the limited partners

    should the corporation be an S or a C Corporation

    The assets inside the FLP are going to be real property rentals located in Florida and NY

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    Orest Baransky BA
    Orest P Baransky CPA PC
    Commack NY
    631-499-6167
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  • 2.  RE: FLP for estate planning

    Posted 09-27-2016 10:07 AM

    The corporation should make a subchapter S election, although I wonder why the client's attorney chose an FLP as opposed to an LLC.  Who are the shareholders of the corporation?

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    Matthew E. Rappaport, Esq., LL.M.
    (516) 558-3377
    mer@merlawfirm.com

    Original Message


  • 3.  RE: FLP for estate planning

    Silver Most Valuable Member
    Posted 09-27-2016 12:19 PM

    The attorney has not yet provided me with the list of shareholders yet. Just wondering why you would pick S Corp for the GP

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    Orest Baransky BA
    Orest P Baransky CPA PC
    Commack NY
    631-499-6167

    Original Message


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