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When valuing the FLP interest, apply a large discount, to provide a safety zone for later bargaining with the IRS. The FLP should be largely
When valuing the FLP interest, apply a large discount, to provide a safety zone for later bargaining with the IRS. The FLP should be largely funded with personal assets (e.g., personal residence). The FLP should be created just prior to death to avoid the appearance of being tax motivated. Appraisals of the assets transferred to the FLP should be avoided, as they tend to limit the size of any discount claimed. None of the above
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