For What It’s Worth: Valuation in the Courts – Court upholds FLP despite postdeath funding
$225.00
Description
Abstract: In a recent case, a federal court upheld a family limited partnership (FLP) in an estate tax refund case — even though the FLP wasn’t funded before the decedent died. How did the family involved pull this off? It was important that state law provided that an owner’s intent to make an asset partnership property caused that asset to become the partnership’s property — regardless of whether legal title was transferred.
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