Legal Question in Credit and Debt Law in Illinois

Family Limited Partnership

Which state is better for a Family Limited Partnership, IL. or IA?


Asked on 12/11/08, 10:09 am

1 Answer from Attorneys
Motty Stone Law Offices of Motty Stone

Re: Family Limited Partnership

That is a somewhat complicated question that depends on what you are trying to do with the FLP. My question for you would be, why do you want specifically an FLP over, say, a living trust? Also, where are most of the assets located?

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Answered on 12/11/08, 10:52 am


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