Estate of Purdue: A Blueprint for FLPing
4 Pages Posted: 13 Mar 2017 Last revised: 14 Mar 2017
Date Written: February 6, 2017
Abstract
In this article, Taite examines Estate of Purdue, in which the Tax Court held that assets of the decedent that were transferred to the family limited liability company were not includable in the gross estate, that transfers to the family trust qualified for an annual exclusion, and that the estate could deduct interest on loans from the estate’s beneficiaries.
Keywords: family limited partnership, estate tax, gift tax
JEL Classification: H20
Suggested Citation: Suggested Citation
Taite, Phyllis, Estate of Purdue: A Blueprint for FLPing (February 6, 2017). Tax Notes, Vol. 154, No. 6, 2017, Available at SSRN: https://ssrn.com/abstract=2931131
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