Frequently Asked Questions > Family Limited Partnerships > What type of assets work in an FLP?
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Any type of business or investment assets can work in an FLP. Assets connected with an operating business, such as a store or ranch, work particularly well, but some families establish FLPs solely with investment-type assets. Personal assets, such as homes and furniture, should not be placed in an FLP. Also, retirement accounts, such as IRAs and 401k plans, usually don’t work in an FLP.
Last updated on January 6, 2011 by Glenn Karisch
