Posted by William Bronchick on February 18, 2002 at 08:54:29:
The master LP is an excellent asset protection and estate planning device. It owns all of the membership interest of the SMLLCs. It can also own other assets, such as mutual funds, etc.
My “ABCs of Asset Protection” book, as well as my “LLC/Limited Partnershis” course covers how to do it, including paperwork. If you hire a professional, make sure it is an atty. A financial planner cannot do anything more than educate you about it.