5/21/2013

President Barack Obama's 2014 budget proposal and the Treasury Department's accompanying explanation lack a perennial proposal to restrict valuation discounts for transfers of interests in family-controlled entities, which comes as a surprise to estate planners. Tax specialists explain the reason its absence could augur the issuance of Treasury regulations to eliminate the family valuation discount and advise planners on how to take advantage of this technique to reduce estate taxes before the discount is eliminated.

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