40+ Years of Business Valuation ExperienceWith decades of experience to our name, our professionals have performed appraisals on hundreds of local and national businesses.
Better Service and Better ValueFrom ESOP to intangible asset measurements, Gibraltar Business Valuations is your one-stop shop for all of your business appraisal needs.
A Valuation Firm Unlike Any Other"Gibraltar Business Valuations was a significant improvement over our previous valuation firm. They dig deep into the details to really understand our business."
Family Limited Partnerships
Gift & Estate Tax Valuations
If you are taking steps towards estate planning, you have likely realized that transferring your wealth to your children or grandchildren can be very costly, unless you plan ahead.
This is due to the estate and gift taxes, as well as transfer taxes, which can cause your hard-earned money to go to frustrating taxes, rather than loved ones and family members.
The good news is that you do have legal options to help limit these taxes, including:
- Family-limited partnerships
- Limited liability companies
Should I Create a Family Limited Partnership?
The main reason you may want to form a family limited partnership or limited liability company as a legal entity is to intelligently manage family wealth. A partnership or LLC can be used as a tool for wealth transfer planning.
Establishing a family partnership or LLC is complex, and the success of one depends on a number of different variables. That is why our business professionals are here to assist you with these matters.
We put together specific strategies to help you avoid tax obstacles, using family-limited partnerships and limited liability companies to allow for a larger amount of assets to be transferred without incurring seemingly insurmountable taxes. If you are interested in creating a partnership as part of your estate plan, reach out today.
How Does a Family Limited Partnership Work?
Generally, the owner (you), contribute assets to the family limited partnership or limited liability company in exchange for ownership units in the partnership or LLC. You then gift ownership units to your children or grandchildren, transferring wealth out of your estate and into the hands of family members.
This allows for the transfer of wealth at discounted amounts and helps to minimize gift and estate taxes.
As general partner, you, the donor:
- Controls what cash the limited partners receive
- Determines what abilities the limited partners have
- Retains control over the partnership assets
Employing Careful Planning Techniques
There are many different factors to consider, which we will explain thoroughly when you make an initial appointment.
It is important to understand that limited partnership documentation is very specific and must be drafted by an experienced professional. A business and tax expert from our team can offer thoughtful planning and financial resources to help you understand your options.
"Well-Written Valuation Reports"Don distinguishes himself by consistently submitting well-written valuation reports. He is highly intelligent and has good analytical and communication skills. I appreciate that Don thinks analytically about the valuation and looks for areas of potential improvement.- Kevin Franson, CPSM — Franson Civil Engineers
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"Significant Improvement Over Our Previous Valuation Firm"Gibraltar Business Valuations was a significant improvement over our previous valuation firm. They dig deep into the details to really understand our business and our ESOP. Their analysis is superior and reports are highly professional.- Rex R. Plaizier, President — WesTech Engineering, Inc.
"Gibraltar Business Valuations Brings Attention to Detail to the Valuation Process"We’ve been very impressed with the level of professionalism and attention to detail that Gibraltar Business Valuations brings to the valuation process. Gibraltar Business Valuations works hard to understand the complexities of our business, much more so than our previous valuators. They dig deep below the surface to discover the unique nature of our company, asking questions and listening carefully to the answers. We find the reports to be very useful in summarizing the opportunities as well as the challenges we face.- David Harvey, President — Crown Enterprises, Inc. dba Sportsman and Ski Haus
"Gibraltar Business Valuations Provides Great Service"When we had an urgent need for help on a project, Gibraltar Business Valuations stepped-up at a moment's notice, taking the first available flight to get here as quickly as possible to help us meet a tight deadline. Gibraltar Business Valuations consistently provides quality work, even in challenging circumstances such as a tight deadline. We know we can rely on Gibraltar Business Valuations for professional expertise and service. Scott D. Hampton, Founding Member - Hampton IP- Scott Hampton