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THE FAMILY LIMITED PARTNERSHIP: NRS 88

The FAMILY LIMITED PARTNERSHIP (FLP) is the foundation of every sound ASSET PROTECTION PLAN. The FLP, a statutory entity, established by the State of Nevada via Nevada Revised Statutes (NRS) # 88, can be used by anyone in the world to successfully shield, preserve and protect any and all assets once placed into the FLP. In simple language the FLP insulates your valuables from judgment or claim against all creditors.

Once the FLP is Chartered with the State of Nevada by the husband and wife, or any single person* they can then immediately transfer into the FLP their own home , savings & checking accounts, stocks & bonds, insurance policies, etc. i.e. anything of value, real or personal, tangible or intangible, as long as the asset transferred is not of a dangerous nature such as cars, vehicles, rental property or operating businesses, and can safely enjoy the benefits, as beneficiaries, for the rest of their lives.
* for a single person PARTNERSHIP, Nevada Registrations, offers a silent Limited Partner.

Typically the husband and wife become one (1%) percent General Partners (G/P) and ninety nine (99%) percent Limited Partners. Children, or other designated beneficiaries, can share any part of the 99%, voting or non-voting. see below, Nominee General Partner. *

As 1% General Partners, the husband & wife, or whoever establishes the FLP, maintains sole and absolute control over the entity and Nevada law (NRS # 88) prohibits any creditor or predator from seizing assets, or forcing distribution of any assets contained therein; specifically, this statutory protection is afforded by NRS 88.535.1 & .2(a) & (b).

The FLP, not only affords complete control over the distribution, or preservation of the assets contained therein, at the time of death of the General Partners, but totally bridges over probate and any legal costs at that point in time.

For large estates the FLP enables the parents to periodically grant the children Partnership Interests far exceeding the current joint $22,000.00 cash limitation, yet be in full compliance with inheritance laws and regulations. (Call to explore this tax saving strategy)

The FLP, in tandem with a Family Will, provides the ultimate, all-encompassing Asset Protection Plan and Estate Planning.

The FLP can be Chartered in the State of Nevada in twenty four (24) hours and that includes the Employer Identification Number (EIN), all Nevada fees, Resident Agent services and a superior Partnership Agreement (P/A) tailored to the clients needs and asset goals.

University of Nevada, Las Vegas, advises "the FLP has never been pierced".

Todd J. Irene B. Mc Millan, Directors, Nevada Registrations, Inc.

REVISED 16 MAY 07

* FOR ABSOLUTE ANOMYNITY, ASK ABOUT A NOMINEE GENERAL PARTNER PROGAM
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