Family Limited Partnership Disregarded Where Decedent Used Partnership Funds for Personal Expenses

Business Valuation Update BVLaw
Legal and Court Case Update
May 28, 1997
5211 Lumber and Other Building Materials Dealers
444190 Other Building Material Dealers
estate and gift taxation
estate tax

Schauerhamer v. Commissioner
T.C. Memo 1997-242, 1997 Tax Ct. Memo LEXIS 277
Federal Court
United States Tax Court


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.

See Also

Schauerhamer v. Commissioner

At issue is whether the value of certain assets transferred to family partnerships is includable in the decedent's gross estate.