On January 26 at the 2010 Heckerling Institute on Estate Planning, Richard Robinson led a session detailing the tax issues caused by a partner leaving a family limited partnership. Some of the issues discussed by Robinson included redemption of a partnership interest and whether such a redemption could greate a taxable gift, changes in partners' distributive shares and methods for dealing with such changes, the difference in tax rate for sale of a partnership interest and liquidation of a partnership interest, inadvertent partnership terminations, partnership interest redemptions through non pro rata distributions, and abandonment of a partnership interest.
See also the American Bar Association's Heckerling Institute reports.
Posted by Jenny Robertson, Associate Editor, Wealth Strategies Journal.
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