27-Oct-20
Downside to Family Limited Partnerships – Part II
Take-Away: Another risk associated with using a family limited partnership (FLP) if the FLP’s assets are included in the transferor’s taxable estate due to IRC 2036 is a potential mismatch between the IRC 2036 inclusion amount and the decedent’s reliance upon the marital deduction. Background: As previously covered, the IRS often successfully challenges estate planning […]
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