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Assignee's Interest in Partnership May Require Discounting

The issue in this estate tax matter is whether discounts for lack of marketability, minority status, and poor portfolio diversity should be applied in valuing the decedent's 25% interest in a Texas general partnership, which decedent held as an assignee.

Adams v. U.S. (II)

At issue is whether discounts for lack of control, lack of marketability, and poor portfolio diversity are applicable when appraising the value of an assignee's fractional interest in a Texas general partnership for estate tax purposes.

For what it's worth...

"What is an Assignee Interest Worth?" David M. Eskstein, Valuation Strategies , January/February 2000, pp. 18-25, 46. Although a few recent court cases, such as Estate of Nowell, T.C. 1999-15 (19 ...

Adams v. United States (I)

The dispute in this case focuses on disagreement regarding discounts that the court should apply to reach the actual value of a 25% assignee interest.

Partnership Assignee Interests Generate Discounts

"Partnership Assignee Interests Generate Discounts," Banoff, Sheldon I., Richard M. Lipton, and Burton W. Kanter , Journal of Taxation , April 1999, pp. 254-255. Family limited partnerships (FLPs ...

Adams v. U.S. (I)

At issue is the price that a hypothetical buyer would pay on the valuation date for a 25% assignee interest in a dissolved Texas general partnership.

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