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The issue is not whether a discount is appropriate, but what is the appropriate discount. This is particularly important in today’s environment because of the Internal Revenue Service’s increased hostility towards discounts associated with entities (e.g., family limited partnerships or limited liability companies). Entities are also relatively expensive to set up and maintain. Very few clients understand the importance of dotting all of the i’s and crossing all of the t’s. Following these formalities is absolutely critical to have any chance of success with the Service. Tenancy in common interests are much simpler.

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