In Texas, family limited partnership (“FLP”) matters have the potential to become contentious. Not only do legitimate complaints arise concerning the management of the partnership, but these complaints are often exacerbated by interpersonal family conflicts.
Often, by the time a family limited partnership matter results in litigation, the relationships between family members will have become strained, if not bitter. In some cases, these relationships may devolve into a “win at all costs attitude,” where family members will seek to do whatever they can to prevent the other side from winning.
It is usually helpful to focus on specific problems, rather than interpersonal issues. For instance, if specific mismanagement has taken place, this is a legitimate issue that needs to be resolved, as it may affect the long-term profitability and survivability of the FLP. Actions of self-dealing and conflict of interest issues also deserve to be resolved.
Suggested Reading – The Dysfunctional Family Limited Partnership: Litigation Issues Relating to Family Limited Partnerships
Once a strategy has been developed, we work tirelessly to achieve the best results possible for our clients. While we understand the family dynamics that are often inherent in FLP matters, we are able to represent our clients objectively in seeking to obtain for them the best outcome possible.
While we usually work to obtain a resolution acceptable to our clients prior to trial, when an acceptable resolution cannot be reached, we are well-prepared to present the case of our clients before a judge and jury. We have litigated and won cases on behalf of our clients in Texas at the trial and appellate courts, and in the Texas Supreme Court.
We welcome the opportunity to meet with you so that we can learn about your specific FLP matter. At this meeting, we can explain how we can represent you if you choose to retain us, and how we will work to develop a strategy and to work aggressively to achieve your objectives.