Gross Estate Includes Date-of-Death Value of Assets Transferred to Family Limited Partnership

Business Valuation UpdateVol. 8 No. 11
Legal and Court Case Update
November 2002

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estate and gift taxation
net asset value, estate tax, bona fide sale, partnership interest, discount for lack of control (DLOC)
Estate of Thompson v. Commissioner
T.C. Memo 2002-246, 2002 Tax Ct. Memo LEXIS 254
September 26, 2002
US
Federal Court
United States Tax Court
Jacobs

Summary

The issue in this case was whether decedent's gross estate included the value of interests in two family limited partnerships: the Thompson Turner Family Limited Partnership ("Turner Partnership") and the Thompson Family Limited Partnership ("Thompson Partnership").

See Also

Estate of Thompson v. Commissioner

Full Text of Court Cases
September 26, 2002

The issue in this case was whether decedent's gross estate included the value of interests in two family limited partnerships.