Section Newsletters

Articles From Bret R. Klemetson

Blount and Smith provide guidance on buy sell agreements: Restrictions disregarded under section 2703 for valuation purposes when safe harbor requirements are not met By David A. Berek & Bret R. Klemetson Trusts and Estates, October 2004 In two recent cases, the Service successfully applied Section 2703 to disregard the restrictions provided under a buy-sell agreement between shareholders in Blount2 and to disregard restrictive provisions of a family limited partnership in Smith,3 resulting in significantly higher valuations of the underlying property for estate and gift tax purposes.

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