Family Partnerships and Corporations

A method of potentially obtaining valuation discounts for minority interest in an estate by transferring partnership interests or closely held corporate stock to various family members.

The IRS has allowed minority discounts even though family members hold all the interests under certain circumstances. Discounts range in the 15% to 45% range dependent upon the applicable reasons for the discounts. Significant savings and extensive litigation result from this valuation technique. In general, the IRS loses 9 out of 10 of these litigated cases, audit rates are high and the cost of defending them is equally great.

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