4 Pages Posted: 12 Oct 2009
Date Written: September 21, 2009
Miller is a decision on family limited partnerships (FLPs) with effective line drawing. The case is particularly helpful to distinguish the types of investment activities that constitute an acceptable nontax purpose under the Bongard criteria. The opinion further provides some guidelines on the factors of age, health, and FLP payment of estate tax liabilities to determine the applicability of section 2036 and its bona fide sales exception.
Keywords: FLP, family limited partnership, estate tax, Miller, section 2036, bona fide sales exception, discounts
JEL Classification: H2, H29, H20, K34
Suggested Citation: Suggested Citation
Gerzog, Wendy C., Miller: Effective FLP Line Drawing (September 21, 2009). Tax Notes, Vol. 124, No. 12, 2009. Available at SSRN: https://ssrn.com/abstract=1476207