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Updated over 12 years ago, 08/17/2012
LP vs. LLLP?
To own my LLC's for my rental properties I am going to set up an LP or LLLP in Delaware(I am concerned about privacy because my wife is a surgeon). I would also do it in Delaware because in my state Georgia it is legal for a foreign entity to not register and own GA LLC's.
I am also doing it to transfer interest to our children.
My question is would you do an LP or LLLP?
I know if I did an LP I would definitely make an LLC the GP. If I went with an LLLP would it be necessary to have the LLC as GP? Can the LP/LLLP own the LLC that is the General Partner?
So my set up would be like:
BLUE PROPERTIES LP or LLLP(Delaware)
owns:
ABC LLC, DEF LLC, GHI LLC, JKL LLC, MNO LLC, etc. (Georgia)