Dealing With A Difficult Family Partnership Dispute?
A family limited partnership (FLP) is a business entity used to manage family property. Generally speaking, FLPs are estate planning instruments designed to minimize the impact of estate and gift taxes, and to shelter assets from creditors. In a typical FLP, the older generation puts money or property into the FLP. Some family members are named general partners, which means that they are responsible for managing and preserving the FLP. Other family members are named limited partners. Limited partners have no control over the operations of the FLP, but they do own important rights.
In certain instances, disputes may arise between family members over their role in the organization, the distribution of assets, allegations of self-dealing, or other issues. If the situation with your family limited partnership has become untenable, it is important to work with a law firm that can best serve your interests. Here at Fisher & Welch, our attorneys have extensive experience litigating all types of disputes involving FLPs.
You Need Attorneys Who Understand The Law Around FLPs
Litigation involving FLPs not only involves the application of partnership law, but equally important, these matters can also involve emotional, messy disagreements between siblings or other family members.
Our attorneys understand the explosive dynamics in these situations. We focus on separating the emotional aspects of the case from the legal aspects, all the while working diligently to accomplish your objectives.
Litigation involving estates can be expensive. For some parties, probate litigation may even be prohibitively expensive. But at Fisher & Welch, we can often arrange to represent clients on a contingent fee basis. If a contingent fee is appropriate, we will advance the costs of preparing your case and will recover attorneys’ fees only if we are successful in your case.
This approach allows us to shift some of the burden off you while giving you the benefit of experienced, skilled representation. To learn more, call 214-661-9400 or email our Dallas-based law firm to discuss your case today.