Kitces: A closing window for estate-tax planners

For the past 15 years, Family Limited Partnerships or Family LLCs have been a staple of high-net-worth estate planning, particularly to obtain favorable valuation discounts on gifts or bequests. This has happened in spite of the IRS and Treasury’s efforts to curb the aggressive use of valuation discounts — an effort undermined repeatedly in various tax court cases. That is all set to change, and quickly.  Read More