Valuation

Practitioners should inform clients with buy sell redemption agreements about the recent Connelly v. IRS, No. 21-3683 (8th Cir. 2023) that held that corporate owned life insurance had to be included in the value of the company. This recent…

The Heckerling Institute on Estate Planning is the country’s largest and leading conference for estate planners, attorneys, trust officers, accountants, financial planners, insurance advisors, and wealth management professionals. …

Chief Counsel Advice 202152018 (“the CCA”), released on December 30, 2021, has a critical impact on grantor retained annuity trusts (GRATs). The CCA addresses a common valuation challenge: what consideration should be given to a potential…

With very limited exceptions, estate, gift and GST (called "wealth transfer") taxes are imposed on property's fair market value (FMV). Only cash and publicly traded securities have definite values for estate and gift tax purposes.

Representative Earl Pomeroy (D. North Dakota) has introduced a bill, HR 436, that would have significant impact on the value of interests in real estate, investment holding and possibly operating entities, for estate and gift tax purposes.

Comprehensive long-form partnership agreement with a Class A and Class B interests. This form includes extensive optional provisions. For a document designed for a single class of partnership interest, see the Long-Form Partnership…

Comprehensive Limited Liability Company (LLC) Agreement. (Author's Note: This form is not yet automated. It is in the process of being automated for the WTP Estate Planning System and is scheduled for a Spring 2006 release.)

Comprehensive long-form partnership agreement with a single class of partnership interest and moderate options. For a more extensive partnership agreement, see the Long-Form Partnership Agreement-with Class A and B Interests posted in this…

The value of property is a critical factor in estate planning. The value of certain partial interests is determined pursuant to actuarial tables. It is important to accurately determine these values because that will help determine whether…

When a client owns a "tax-sheltered" investment, the practitioner must deal with a number of tax and practical problems in planning and administering the estate. Several authorities consider the correct tax treatment of such investments to…