Limited partnership is not a taxing choice for an LLC. It is simply a partnership wherein the limited partners have limited liability. An LLC already provides this limited liability for all members. Further, an LP requires at least one GP, which assumes all liability for the partnership. Usually this GP is a seperate corporation acting as GP, which creates one more layer of beauracy to deal with.
da wiz is the rezident authority on trusts. I’m trying to learn more so as to add that to my list of “value added services.”