TICs offer simple alternative to FLP, FLLC

Description

Abstract: For affluent families, family limited partnerships (FLPs) and family limited liability companies (FLLCs) can be effective vehicles for reducing gift and estate taxes and protecting assets from creditors. But they also have some downsides. As this article explains, transferring tenancy in common (TIC) interests can be an attractive alternative for certain tangible assets — particularly real estate. But there are both pros and cons to this approach.