Introducing "The Family Limited Partnership" How to

by Ronald C. White Jr., Charles S. Stoll

In the years that have passed since we put together our first Family Limited Partnership, we have learned a great deal about how this powerful tool can assist in enhancing and maintaining intra-family values and relationships. We have in fact, successfully used Family Limited Partnerships to meet so many challenging situations that we felt compelled to gather up our various experiences and ideas into one complete handbook for the benefit of a broader audience. We did so in order to assist people in developing a basic understanding of the Family Limited Partnership and how this vehicle can be used to intelligently and sensitively direct and protect a family's assets.

Additionally, we wanted to highlight the primary and motivating force behind the use of the Family Limited Partnership. Overwhelmingly, we have observed that these Partnerships are preferred by those who wish to make an expression of love for family, one which underscores a desire for their loved ones to get - and keep - as much as possible of the fruits of their life's work.

Charles S. Stoll graduated from Stetson University in 1977 earning a B.B.A. degree with a major in accounting. Upon graduating he was employed with a large regional accounting firm in Ft. Myers (now merged with Cooper-Lybrand). Mr. Stoll passed the CPA Exam in November of 1977 and continues to maintain his Certified Public Accountant license. In 1979 Mr. Stoll was recruited by Paine Webber and joined them as an account executive. From 1982 to 1986 Mr. Stoll worked with Sherson Lehman Hutton as a Financial Consultant. Rejoining Paine Webber (Boca Raton) in 1986, he was instrumental in new accountant development until 1989 at which he left to start his own firm offering a full range of investments, insurance and financial services.

Stoll Financial Corp. was formed in 1989. In 1991 Mr. Stoll was invited to participate in the American Doctors Financial Group specializing in helping Florida physicians with wealth creation and preservation. He continues to advise many doctors around the state and is currently the financial advisor to the American College of International Physicians.

Mr. Stoll's desire to always provide the most appropriate type of planning led him to become involved in the utilization of the Family Limited Partnership. For the past eight years he has been one of the industry leaders on the use and implementation of the Family Limited Partnerships, instructing attorneys, accountants, and other financial service professionals.

He has spoken on numerous radio broadcasts, quoted in USA Today, and published in The International Physician magazine.

Mr. Stoll is a Certified Public Accountant, Certified Financial Planner, Certified Estate Planner and a Registered Investment Advisor with the Securities and Exchange Commission. He is also a General Securities Principal, Registered Representative, and licensed life and health insurance agent. He has also been granted the designation of Personal Financial Specialist by the American institute of Certified Public Accountants.

180 pages, Paperback

First published January 1, 1996

About the author

Ronald C. White is the author of American Ulysses: A Life of Ulysses S. Grant (2016). General David H. Petraeus (Ret.) wrote, “Certain to be recognized as the classic work on Ulysses S. Grant.”

White is also the author of three books on Abraham Lincoln. A. Lincoln: A Biography [2009], was a New York Times, Washington Post, and Los Angeles Times bestseller. USA Today said, “If you read one book about Lincoln, make it A. LINCOLN.” The book was honored as one of the best books of 2009 by the Washington Post, Christian Science Monitor, St. Louis Post-Dispatch, History Book Club, and Barnes & Noble. It won a 2010 Christopher Award which salutes books “that affirm the highest values of the human spirit.”

Lincoln’s Greatest Speech: The Second Inaugural, was honored as a New York Times Notable Book of 2002, and a Washington Post and San Francisco Chronicle bestseller. The Eloquent President: A Portrait of Lincoln Through His Words [2005], was a Los Angeles Times bestseller, and a selection of the History Book Club. White’s op-eds have appeared in the New York Times, Washington Post, Los Angeles Times, and Christian Science Monitor. He has lectured at the White House and been interviewed on the PBS News Hour.

He attended Northwestern University and is a graduate of UCLA and Princeton Theological Seminary, earning a Ph.D. in Religion and History from Princeton University. He has taught at UCLA, Princeton Theological Seminary, Whitworth University, Colorado College, Rider University, and San Francisco Theological Seminary. He is a Fellow at the Huntington Library in San Marino, California, and a Senior Fellow of the Trinity Forum in Washington, D.C. He lives with his wife, Cynthia, in La Cañada, California.