Clarkston Capital

CAEPC: Family Investment Partnerships / Current Issues Involving FLPs, LLCs, and Other Closely Held Entities

Date: Monday, February 2, 2015
Time: 11:30am - 4:30pm
Location: Phoenix Country Club
Speaker: Paul Lee: Bernstein Global / Stephanie Loomis-Price: Winstead Attorneys


"Family Investment Partnerships"

  Paul Lee

Bernstein Global Wealth Management


"Current Issues Involving FLPs, LLCs and other Closely Held Entities"

Stephanie Loomis-Price

Winstead PC


Presentation Description:

Paul Lee (12:00PM - 2:00PM)

FLPs holding liquid investments are used for more than the valuation discount (which may become a thing of the past).  This presentation discusses: alternative ways to structure the FLP from single class share to more exotic designs (series, “tracking,” qualified & non-qualified preferreds, guaranteed payments, etc.); transfer tax (specifically, Section 2701), partnership and income issues that arise with each type of design; unresolved partnership accounting and income tax issues; how different structures might be applied in different estate planning techniques;  and partnership provisions to consider in order to maximize the “step-up” in basis.

Stephanie Loomis-Price (2:30PM - 4:30PM)

This session will provide practical tips with some discussion on recent developments in audits and case law related to creation and maintenance of family limited partnerships. Topics addressed will include: Determining when it is not feasible to create a partnership , optimizing partnership defense to avoid IRS attacks, and advising your clients on proper entity operation.


Come early, network with fellow planning professionals, and sit down to an excellent lunch, an ice cream social break and a professionally delivered presentation.  This program offers 4 hours of continuing education.


This program is generously sponsored by:


Additional meeting information:

Be sure to sign in (and out if you are seeking CE credit for CFP or Arizona Department of Insurance).

Last minute cancellations:  If you find you cannot attend, an e-mail to gives us an idea of how many extra seats we may have for those arriving "at the door".

We love substitutes! If you can't attend, maybe someone else in your firm or practice would like to attend in your stead?    As always, you can register your substitutes on-line, or send us a quick e-mail to

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