Forbes cites Professor Stephen Black on the myths behind family limited partnerships (Pierce Law Reporter)

Forbes cites Professor Stephen Black on the myths behind family limited partnerships

Forbes magazine takes note of a recent law review article co-authored by Professor Stephen Black:

But They Still Top Death
A new academic study argues that family limited partnerships are based on "myths" and really not worth the trouble. Writing in the University of Memphis Law Review, Katherine D. Black, Stephen T. Black and Michael D. Black say the popular estate planning tool can beget family discord, limited management flexibility, successful irs challenges of claimed valuation discounts, higher taxes and "potential malpractice liability" for estate planners who don't know all the complicated rules. Conclusion: "flps are not what they appear to be."

Posted by John McCrory on February 18, 2008 10:05 PM | Permalink

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