Abstract

http://ssrn.com/abstract=571206
 


 



Kimbell v. United States: The Rise and Apparent Fall of the Section 2036 Argument Against FLPs


Brant J. Hellwig


University of South Carolina - School of Law


Tax Notes, Vol. 104, No. 5, August 2, 2004

Abstract:     
In this report, Professor Hellwig examines the application of section 2036 to family limited partnerships in the context of the Fifth Circuit's recent opinion in Kimbell v. United States. After describing how the government developed section 2036 into an effective tool in combating the use of family limited partnerships to generate transfer tax savings, the report details how the Fifth Circuit's interpretation of the adequate and full consideration exception to section 2036 in Kimbell severely curtails the government's position. The report concludes with criticisms of the Kimbell decision, namely that the court failed to properly follow its own precedent in Wheeler v. United States and that the court failed to consider the legislative purpose behind section 2036 in interpreting the adequate and full consideration exception.

Accepted Paper Series


Not Available For Download

Date posted: July 30, 2004  

Suggested Citation

Hellwig, Brant J., Kimbell v. United States: The Rise and Apparent Fall of the Section 2036 Argument Against FLPs. Tax Notes, Vol. 104, No. 5, August 2, 2004. Available at SSRN: http://ssrn.com/abstract=571206

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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