FamilyLimitedPartnershipValuation
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What is a Family Limited Partnership?
A legal entity that holds family assets (often real estate) with general partners controlling operations and limited partners having passive interests, used for estate planning and asset protection.
Why are FLP interests discounted?
Limited partners lack control over decisions and cannot force distributions or sales. These restrictions justify valuation discounts typically 25-45% from pro-rata asset value.
When do I need this appraisal?
When forming an FLP, gifting limited partnership interests to family members, preparing estate tax returns, or documenting basis for tax planning.
What do you appraise?
We value the underlying real estate at fair market value, then apply appropriate discounts to value the limited partnership interests themselves.
How do you support the discounts?
Through analysis of partnership agreement restrictions, marketability studies, case law review, and comparison to similar partnership transfers and public market data.