The family limited partnership FLP is a useful tax and estate-planning tool. The FLP boils down to a limited partnership set up for the purpose of transferring assets among family members. In a typical case, the FLP is set up with the transferor usually parents as the general partner, and...
In the case of Holman v. Commissioner, a husband and wife formed a family limited partnership FLP, and held both general and limited partnership interests. The only asset owned by the FLP was Dell Computer stock. Six days later, they transferred limited partnership interests to each...
SEATTLE -- Glassybaby and the Marsha Rivkin Center for Ovarian Cancer Research announced a partnership today to raise money for the Rivkin Center's efforts to fund ovarian cancer research with the launch of a new gift set honoring a glassybaby family member's battle with ovarian cancer. The gift...
MIDLAND, Texas, Oct. 16 /PRNewswire-FirstCall/ -- Mexco Energy Corporation today announced it has purchased interests in approximately 143 mineral acres amounting to an approximate 10% royalty in three gas wells located in Johnson County, Texas for $1.275 million. This property, operated by Williams Production Gulf Coast...
Online Piggy Bank to launch in Australia with SmartyPig.com.au DES MOINES, Iowa, Oct. 8 /PRNewswire/ -- SmartyPig (http://www.smartypig.com/), the online piggy bank that helps individuals, families and organizations save for specific goals, announced today it had forged a new partnership with Australia New Zealand Banking Group Limited...
DALLAS -- Crosstex Energy, L.P. (NASDAQ: XTEX) the Partnership announced today that its assets in Louisiana sustained no significant physical damage as a result of Hurricane Gustav. Currently, most of the Partnership's facilities along the Gulf Coast are operational; however, limited electrical power availability has delayed operations at the Plaquemine...
Stronghold Advisors, a leading middle marketadvisory firm in the Mid-Atlantic region providing M&A and strategic growthadvisory services to family-owned and closely-held businesses, announcedtoday the creation of an Advisory Board, naming eight, highly accomplishedexecutives as the company's advisors. This distinguished group includesleaders in government, technology, healthcare, economic development,finance, and business development....
Increasingly, clients' investments are being structured in family limited partnerships FLPs or family limited liability companies. These structures can confer substantial benefits to your clients and, in turn, to your practice. But such benefits often come with risks, and FLPs are no exception. They pose a risk that should be...
A proposed federal waiver to Medicaid coverage in Utah looks like a step toward improving health care but is two steps back in practice, a research agency says. The waiver very well might expand access to working families who are priced out of the current market or...
The long-awaited transformation of thepartially condemned Fairview Manor apartment complex in Fairbanks willcommence in the near future following Alaska Housing Finance Corporation'sboard of directors' approval of $15.6 million development proposalcombining tax credits, grants and mortgage loans. The funding, requested bythe Weeks Field Limited Partnership, will be used for the acquisition...
LOUISVILLE, Ky. -- NTS Realty Holdings Limited Partnership (the "Company")(AMEX: NLP) announced today that it completed the purchase of the apartment community known as Colonial Grand at Shelby Farms ("Shelby Farms"), a multifamily property located in Cordova, Tennessee. The Company completed the transaction through Shelby Farms Apartments, LLC, a wholly-owned...
LOUISVILLE, Ky. -- NTS Realty Holdings Limited Partnership (the "Company") (AMEX: NLP) announced today that after the close of business yesterday it entered into agreements (the "Agreements") with Colonial Realty Limited Partnership, a Delaware limited partnership and Colonial Properties Services, Inc., an Alabama corporation, neither of which is affiliated with...
She was born Nov. 12, 1956, in Victoria. She was involved with Lessor Holdings Limited Partnership, a family operation that includes raising commercial Brangus cattle. Lessor attended local schools and graduated from Texas Christian University Ranch Management Program. She was elected a TSCRA director in March 2005, following...
Stanello's Italian Restaurant, located at 1514 12th St., will close its doors Thursday, June 5, because longtime owner Stan Velis is retiring. Velis, 55, said he's just ready to retire after running the Fairhaven restaurant for 34 years. "The ongoing support of so many customers has...
Plugging the Holes in Asset Protection Plans An increasing number of Americans are transferring personal ownership of residential property to trusts, limited liability corporations LLC, limited liability partnerships LLP, and other entities designed to protect assets or take advantage of favorable tax treatment Although transferring residential and...
Jaytee Properties Limited Partnership, a Trager family limited partnership, purchased the Legal Arts office building and its adjacent parking garage. The property, located at 200 South Seventh Street, will be renamed "Republic Plaza." "The property is central to all good things that are happening in downtown Louisville," said Steve...
Mark Glasser and Suzanne Matthews have waged one of the most acrimonious custody battles in recent history, reportedly running up a legal tab of $3 million. But they are not a divorced couple fighting over children. They are brother and sister fighting over guardianship of their...
In a case filed on May 5, the tax court addressed several valuation matters in connection with the gifting of family limited partnership FLP interests. The issues in Jane Z. Astleford v. Commissioner, T.C. Memo. 2008-128, are the value of 1,187 acres of Minnesota farmland, whether a particular interest in...
EVERY 10 days someone is killed by a criminal motorist on the region's roads. Our Road Respect campaign was launched in May last year to demand more respect on the region's roads and crack down on motoring mayhem. The campaign was backed by Northumbria Police, fire...
Stewart & Stevenson Tactical Vehicle Systems Limited Partnership, Sealy, Texas, was awarded on May 1, 2008, a $54,312,842 firm-fixed price and cost-reimbursement contract for adding supplemental family of medium tactical vehicle variants to the contract. Work will be performed in Sealy, Texas and is expected to...
Articles 2008-05-06
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