No more cookie-cutter FLP valuations

Description

Abstract: Attention to detail and thorough documentation are key ingredients to preserving family limited partnership (FLP) valuation discounts. This brief article notes some of the ways valuators support these discounts and uses a case study to illustrate the need to consider state tax regulations and provide well-founded written documentation in supporting FLP valuation discounts. Citations: Estate of Helen H. Berry, No. 1485 C.D., LEXIS 182, April 24, 2007. Estate of Thompson, 382 F. 3d 367, 379, 3rd Cir. 2004.