Abstract

http://ssrn.com/abstract=416400
 


 



Estate Tax Exposure of Family Limited Partnerships Under Section 2036


Brant J. Hellwig


University of South Carolina - School of Law


Real Property, Probate and Trust Journal Vol. 38, p. 169, Spring 2003

Abstract:     
Recently, a district court in Texas decided Kimbell v. United States, the first case in which a court applied I.R.C. sec. 2036 in the family limited partnership context based on the structure of the arrangement as opposed to the decedent's continued use of the partnership property for personal purposes. This theory represents a way in which the Internal revenue Service could combat the use of family limited partnerships to generate valuation discounts. This article discusses limited partnerships as an estate planning vehicle and outlines the manner in which I.R.C. sec. 2036 could be applied to property transferred to a family limited partnership. Finally, the Article concludes with a discussion of how the Tax Court could apply I.R.C. sec. 2036 when it decides Estate of Strangi on remand.

Accepted Paper Series


Not Available For Download

Date posted: June 12, 2003  

Suggested Citation

Hellwig, Brant J., Estate Tax Exposure of Family Limited Partnerships Under Section 2036. Real Property, Probate and Trust Journal Vol. 38, p. 169, Spring 2003. Available at SSRN: http://ssrn.com/abstract=416400

Contact Information

Brant J. Hellwig (Contact Author)
University of South Carolina - School of Law ( email )
Main & Greene Streets
Columbia, SC 29208
United States
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