Family limited partnerships and asset protection

Article Abstract:

Family limited partnerships are useful for protecting assets because they provide death tax discounts while permitting donors to control contributed property and shift income to other family members. These entities provide creditor protections and significant transfer tax advantages, which makes them valuable as estate planning vehicles.

Methods, United States, Taxation, Estate planning, Limited partnership, Limited partnerships, Family-owned business enterprises, Family-owned businesses

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Wrongful trading and liability

Article Abstract:

The UK's Insolvency Act 1986 provides that a director or shadow director may be personally liable for the debts of an insolvent company in certain circumstances. Before the Act became law, negligent directors were allowed to shelter behind limited liability companies. The legal liabilities of company directors are discussed.

Laws, regulations and rules, Corporate directors

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