Tax Law Update

Texas District Court respects decedent's unfunded FLP for estate tax purposes. A case out of Texas sure enough shows it pays to know the law. In this case, clients saved about $40 million. In Keller v. United States, No. V-02-62 (S.D. Texas Aug. 20, 2009), the U.S. District Court for the Southern District of Texas ruled in favor of the taxpayer, holding that the estate of Maude O'Connor Williams was

David A. Handler, partner, & Alison E. Lothes, associate in the Chicago office of Kirkland & Elli | Oct 01, 2009

• Texas District Court respects decedent's unfunded FLP for estate tax purposes. A case out of Texas sure enough shows it pays to know the law. In this case, clients saved about $40 million.

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