In recent years, family limited partnerships have gained in popularity for various reasons. Much of the popularity has stemmed from perceptions that substantial discounts could be obtained. That feature has drawn the interest of the Internal Revenue Service and has resulted in targeting of family limited partnerships as a tax abuse area. Regulations have been proposed disallowing valuation at less than fair market value.
"Family Limited Partnerships,"
Agricultural Law Digest: Vol. 11
, Article 1.
Available at: http://lib.dr.iastate.edu/aglawdigest/vol11/iss3/1