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5th Circuit Ratifies 47.5 Percent Discounts to FLP Asset Values

Posted 9:51 PM by

Business appraisers and tax specialists may recall the 2009 decision by the federal district court in which a wealthy Texas widow, with the help of longtime advisors, formed a family limited partnership (FLP), but then failed to completely fund it with $250 million in corporate bonds before her death. She also filled out, but ultimately did not sign, the check intended to capitalize the general partner (GP). Read more