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concerns regarding Mr. Stone’s and Ms. Stone’s assets. During
that year, C. Rivers Stone informed Mr. Stone, Ms. Stone, and C.
Rivers Stone’s siblings about that suggestion, and the Stone
family became very interested in exploring it.
The primary reason why the Stone family became very inter-
ested in exploring the use of family limited partnerships was to
resolve the children’s concerns regarding Mr. Stone’s and Ms.
Stone’s assets. The Stone family wanted to explore whether such
concerns could be resolved by: (1) Actively involving each of
the children in the management of certain of their parents’
assets during their parents’ lives by giving each child the
opportunity, through ownership of a general partnership interest
in a different family limited partnership, to manage such assets
in which such child was interested; and (2) actively involving
all of the children in the management of certain of their par-
ents’ other assets during their parents’ lives by giving all of
them the opportunity, through ownership of general partnership
interests in a fifth family limited partnership, to manage such
assets in which they all were interested. Another very important
reason why the Stone family desired to explore the use of family
limited partnerships was to settle and bring an end to the
litigation among the children. Finally, the Stone family also
wanted to explore the use of family limited partnerships as a way
to help avoid disputes among the children regarding the ultimate
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