The ABA Real Property, Probate & Trust Section is offering a teleconference and webcast today on Income Tax Implications of FLPs from 1:00 p.m. – 2:30 p.m. EST:

Learn about the federal income tax traps and opportunities presented at each stage of a family limited partnership’s existence from formation and operation through liquidation. Attend this program to learn:

• When founding partners might recognize gain upon formation of the FLP
• Why special allocations of partnership items might pose problems for traditional FLPs
• How to allocate built-in gains in the FLP
• How to avoid the perils of liquidating the FLP too soon after its formation
• When distributions of marketable securities and appreciated property from the FLP may be taxable

Faculty:

• Samuel A. Donaldson (Director – Graduate Tax Program, University of Washington School of Law, Seattle, WA)
• Richard B. Robinson (Robinson & Diss, Denver, CO)
• Hugh F. Drake (Moderator) (Brown, Hay & Stephens, Springfield, IL)