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Estate Denied Discounts For Marketable Security Family Limited Partnership

Estate Denied Discounts For Marketable Security Family Limited Partnership

The Holliday decision does not make me despair when it comes to marketable security family limited partnerships, but advisors should really push for strong execution.I mean if you are saving near a million or more in transfer taxes, spring for a couple of thousand to get a good general ledger. Have a couple of meetings.  And make sure you read that partnership agreement and do what it says.

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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.