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USA | My understanding is assets held in an FLP can reduce the value up to 40%. With about $12.7 million estate tax exemption for a husband and wife on the fed side = about $21 million in value, before estate taxes are due .
As far as ILL estate tax = $8 million for a husband and wife. Land in a FLP = about $13 million in asset. value before ILL Estate taxes are owed.
Am anti managing things from the grave. Give it to the next generation without strings attached and let them have at it.
Edited by coup 2/9/2016 19:31
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Estate Planning Attorney's
