Proposed Irs Regulations Go After The Family Limited Partnership
If your client operates a business through a Family Limited Partnership, professional responsibility requires that you apprise them of possible changes on the horizon that could substantially affect these entities’ tax exposure. This is big news for high net-worth families who have successfully utilized the Minority Interest Discount to reduce estate taxes for the next generation. But how do you break the news to your rich clients? In a Nutshell The very wealthy have access to methods that allow a significant reduction in estate taxes to their children and descendants....