FLP Definition

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FLP is Family Limited Partnership.

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SOFT COSTS are those extraneous costs that are not readily foreseen or budgeted for, e.g. legal fees, loan fees and interest, etc.

RUNNING TOTAL is the sum of any given set of numbers that is incremented/decremented as additional numbers become available over time. For example, a retail store makes sales throughout a time period; the running total is the sum of their sales, including returns/credits, at any given point of time during that time period: day, week, month, quarter, and year.

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