Fifth Circuit Affirms District Court and $83 Million in Unpaid Taxes and Interest Owed by Donees The Fifth Circuit recently affirmed the district court’s decision and the imposition of unpaid taxes and interest on donees of shares sold at less than fair market value to the company owed by relatives of the donor. As Joe Brophy explains, this case illustrates the pitfalls of deathbed planning involving asset ...

Careful Estate Planning Overcomes IRS Objections Even After Sudden Death Keller v. United States resulted in a huge family limited partnership (FLP) win—$125 million—in Fifth Circuit Court.  In this article, learn what the lead attorneys at the Dallas-based law firm of Meadows, Collier, Reed, Cousins, Crouch, and Ungerman have to say about FLP planning and their victory as well as what every financial advis ...