The most common assets put into a family partnership are the following:

– real estate;

– other partnership interests (limited or general);

– corporate stock (in a “C”, not an “S” corporation); however, you should not be general partner if the stock is closely held; and

– cash.

The family partnership is not appropriate for the following:

– your home;

– life insurance (an irrevocable trust is best); and

– retirement plans (IRA’s, etc.).