Estate of Liljestrand v. Commissioner

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November 2, 2011

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6733 Trusts, Except Educational, Religious, and Charitable
estate and gift taxation
Estate of Liljestrand v. Commissioner
T.C. Memo 2011-259; 2011 Tax Ct. Memo LEXIS 251
US
Federal Court
United States Tax Court
none
Haines

Summary

Tax Court includes entire fair market value of FLP real estate assets in the gross estate, rejecting claims that protecting them against partition and ensuring son’s continued management role constituted legitimate, non-tax reasons for FLP.
Estate of Liljestrand v. Commissioner
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Tax Court includes entire fair market value of FLP real estate assets in the gross estate, rejecting claims that protecting them against partition and ensuring son’s continued management role constituted legitimate, non-tax reasons for FLP.