A Symbiotic Relationship

Much of the wealth being transferred in the United States today is in the form of highly appreciated illiquid assets: family businesses, closely held stock, real estate and interests in limited liability companies (LLCs) and limited partnerships (LPs). For many financial advisors, illiquid assets are likely to represent 80 percent or more of a typical client-family's net worth.

Much of the wealth being transferred in the United States today is in the form of highly appreciated illiquid assets: family businesses, closely held stock, real estate and interests in limited liability companies (LLCs) and limited partnerships (LPs). For many financial advisors, illiquid assets are likely to represent 80 percent or more of a typical client-family's net worth. The repositioning of these special assets creates potential challenges for (1) the clients who are transferring them

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