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Thomas McJD
Thomas McJD, Attorney
Category: Estate Law
Satisfied Customers: 3170
Experience:  Wills, Trusts, Probate & other Estate Matters
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Before a surviving parent dies, a lawyer with the help of a

Customer Question

Before a surviving parent dies, a lawyer with the help of a co-executor son, helps that parent form a Family Limited Partnership for the purpose a discount on estate taxes. After that parent dies, the lawyer says in a meeting of all heirs that it "took 2 years for your brother to convince you Mother to do this." The mother was so sound mind. However, after the mother signed the document, she expressed to her other children, I wish I had not done this and it may not even work."
The estate tax exemption at the time was $2,000,000. It is now $5,450,000 and the IRS is taking closer looks at the discounts asked for in a Family Limited Partner ship. Because of this, the remaining heirs want to dissolve the FLP.
Submitted: 9 months ago.
Category: Estate Law
Expert:  jb156200 replied 9 months ago.

Good afternoon. My name is ***** ***** I am a licensed attorney. What state governs the laws of the Family Limited Partnership?

Customer: replied 9 months ago.

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