Limited Liability Limited Partnership (LLLP)

At JD Legal Planning PLLC, we can establish your Limited Liability Limited Partnership ("LLLP") for your business or farm enterprise, or as part of your succession and estate planning.

An LLLP is a modified limited partnership in which there are general partners in control of management and limited partners who have financial interests only.  By having a limited partnership elect limited liability status, the general and limited partners receive limited liability, so that they are not personally liable for the debts of the LLLP.

An LLLP requires at least two partners.