As a Ventura County estate planning law firm specializing in family partnerships, our firm commonly recieves questions about family partnership options. We have a team of experts with the legal knowledge to answer questions about the process of choosing a family partnership, and what the benefits of proper estate planning can be.
Our firm can provide expert legal services as estate planning attorneys. We are a Southern California based law firm in business since 1985. We specialize in family partnerships and estate planning matters.
To learn more about family partnerships, or if you would like a free consultation to learn if a family partnership is right for you, please do not hesitate to contact us at (805) 482-2282, or e-mail us.
How is the partnership taxed?
The family partnership itself is not subject to federal income tax. Each partner reports his or her proportionate share of partnership income or loss.
Therefore, if the partnership’s income comes from capital, such as rental real estate, and not services, you can split income with your family members and take advantage of their possibly lower marginal income tax rates.
It is our privilege to guide clients through estate planning decisions
