Estate planners often must make a decision whether to recommend a family limited partnership (FLP) or family limited liability company (FLLC) to achieve the best federal estate tax savings for a client.1 While many...
On June 25, 2007, the Supreme Court agreed to hear Knight v. Commissioner1 to decide whether trusts and estates can fully deduct the fees they pay for the investment management and advisory services they receive.2 For...
One of the most vexing issues in the federal income taxation of trusts over the last 15 years has been questions about the correct treatment of Internal Revenue Code Section 212 expenses.1 Are such expenses fully...
Since the early 1990s, use of the investment family limited partnership (FLP)1 as a sophisticated estate-tax reduction technique has grown. Almost universally, the Internal Revenue Service asserts in these situations...
