Transfer of Interest in FLPs

Fewer estates are now subject to federal estate taxes, thanks to the $5 million federal estate tax exemption. Internal Revenue Service data indicates that only 8,239 estates larger than $5 million filed a federal estate tax return in 2009, the most recent year for which data is available.1 In sharp contrast, more than 108,000 federal estate tax returns were filed nationwide as recently as 2001. However,