Perspective
Jul. 22, 2015
Discounts of family entity interests threatened
At a recent ABA meeting, the Treasury Department announced it will attempt to restrict or eliminate the valuation discount for transfers of interests in family controlled entities. By Bruce Givner and Owen Kaye
In 2011, the lifetime transfer tax (estate, gift and generation skipping transfer
tax) exclusion was set at $5 million. As a result, less than 1 percent of the families
in the country will be impacted by the estate tax. The $5 million figure is adjusted
for changes in the cost of living, so it has steadily risen steadily to $5.12 million
in 2012; $5.25 million in 2013; $5.3...
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