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A Family Limited Liability Company (LLC) or Limited Partnership (LP) can serve as an effective strategy to accomplish tax and non-tax objectives. However, the IRS has continued to be successful in minimizing or eliminating the tax benefits of this strategy in certain situations. This article focuses on approaches that will minimize the chances of an IRS attack (based on the most recent cases) while accomplishing client objectives.
T. RANDALL GROVE is a shareholder and chair of the trust and estate group for Landerholm,
Memovich, Lansverk & Whitesides, P.S. and is a member of the Washington State Bar. He is a
fellow of the American College of Trust and Estate Counsel (ACTEC) and also serves as
Washington State Chair for ACTEC. Mr. Grove is a frequent presenter of continuing legal
education seminars to attorneys, certified public accountants and other estate planning
professionals. He received his J.D. from Willamette University and an LL.M. in Taxation from
New York University School of Law. He is listed in The Best Lawyers in America and Super
Lawyers in Washington State.
The author gratefully acknowledges the contribution to these materials by his partner, Michael
W. Bortz.
Phone: (360) 696-3312 (WA),
(503) 283-3393 (OR)
Email: randy.grove@landerholm.com
(The above should not be construed as specific legal advice and is intended for general information purposes only.)
©Copyright 2003, Landerholm, Memovich, Lansverk & Whitesides,
P.S. |
