A business organization that allows limited partners to enjoy limited personal liability while general partners have unlimited personal liability A limited partnership is similar to a general ...

A family limited liability company (LLC) protects the assets of a family business from creditors. An LLC offers the protection of a corporation with the tax structure of a partnership. A family ...

A limited partnership has both general and limited partners. The general partners own and operate the business and assume liability for the partnership, while the limited partners serve as ...

Greater asset protection can be achieved by holding the general partnership interest in a limited liability company (LLC) that is owned and controlled by the parents. At the same time, the parents ...