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Joel F. Dorroh, P.C. represents individuals persons and businesses in a wide variety of tax issues. This includes estate planning and business planning matters that are discussed in detail in other places on this web site. As stated in those areas, there is often a lot of overlap between probate law or corporate law and issues involving taxation. Since they are so intricately interconnected, they are not considered to be necessarily separate tax practices. Continue reading
Family limited partnerships (“FLPs”) are sophisticated estate planning devices. Since they became popular during the mid-1990s, thousands of these entities have been created to take advantage of an aggressive estate tax planning loophole. FLPs are not for everyone in that there are significant expenses in setting up the FLP and are usually only necessary for individuals having an estate above $675,000 or $1.35 million in the case of married couples. In addition, FLPs can be used in conjunction with other estate planning devices such as bypass trusts. Continue reading
