At issue is whether the value of certain assets transferred to family partnerships is includable in the decedent's gross estate.
Deposits of FLP Income to Personal Bank Account Cause Disallowance of Gifts
The decedent, Dorothy Schauerhamer, established three partnerships to which she gifted assets, primarily commercial real estate.
Family Limited Partnership Disregarded Where Decedent Used Partnership Funds for Personal Expenses
The Tax Court concluded that three family limited partnerships should be disregarded and the value of their assets included in the value of the decedent's gross estate under IRC sec. 2036.