Limited partnership versus general partnership?

There are two types of partnerships: general and limited. 

The advantages of a limited partnership are (1) your heirs, the limited partners, have no say in management, (2) it is harder for creditors to get at a limited partnership interest. 

On other hand, the advantage of a general partnership is that it does not have to pay the $800 per year state franchise tax that a limited partnership incurs for the right to exist in California.

It is our privilege to guide clients through estate planning decisions

Estate Planning Attorneys

Valued Client Reviews

Lisa Vertz
Lisa Vertz
March 14, 2022.
I worked with Brandon Johnson and he was very thorough and excellent to work with on a living trust and will.
Roman Kisz
Roman Kisz
December 21, 2021.
Antonio is great. I work in a related industry, but my wife does not. He sat down with us and helped to get our estate in order by walking us through the trust process. My wife was very happy we took the time to protect our family and to get this crucial step in life accomplished. Thanks again!
Don Houle
Don Houle
August 13, 2021.
A great place to place your trust for a trust
Mike Ricci
Mike Ricci
December 5, 2020.
Kathy Locklear
Kathy Locklear
October 3, 2020.
Kyle T
Kyle T
September 22, 2020.
Kevin is very knowledgeable, professional, and easy to work with. Highly recommend for Tax and Estate planning.
Joan Riley
Joan Riley
January 16, 2018.
I have just completed my trust work with Mr. Staker and I could not. be happier. I was referred to him by a prominent San Fernando Vally commercial realtor so I had high hopes when I met with him and I was not disappointed. Now I am insisting that my children go to him to make certain that their trusts are in order. Joan Riley
Bryan Freeberg
Bryan Freeberg
May 2, 2017.