FLPs and Sec. 2036(a).
This case continues to serve as a reminder of what not to do with a FLP--retain actual possession or use of property (without reimbursement) after the transfer; make improperly planned distributions; and pay personal expenses. These factors and many others are highlighted in the AICPA Tax Division's Trust, Estate, and Gi8 Tax Technical Resource Panel's Checklist of Issues to Consider in Yearly Administration of Family Limited Partnerships, at www.cpa2biz.com/NR/rdonlyres/ efds63xigo24sd2vvdcmjo5ccaadqbcko gemnvarp156u7gavcxplevahf7r2wqupq2tt k44e7fsuo/2036checlistkeyguidedonec.doc.
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|Title Annotation:||COURT DECISIONS|
|Author:||Laffie, Lesli S.|
|Publication:||The Tax Adviser|
|Date:||Oct 1, 2005|
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