You are an associate in a boutique tax consulting firm that specializes in the real estate industry. You have been assigned to work with a client who needs advice on the tax implications of his busine

TAX 665 Final Project Part I Milestone One Guidelines and Rubric Propose basic estate planning strategy (without considering trusts) apply ing the final project fact pattern. Consider valuation, family limited partner ships, unified credit, and annual exclusion to accomplish long- term minimization of the client’s tax liability. Cite relevant legal authority for your answer. This milestone covers Section I Parts A and B (excluding trusts). Specifically, the following critical elements must be address ed:

I. Introduction A. Create an estate planning strategy, showing versatility of thought, that will minimize estate and gift tax liability over the cour se of the client’s life span, potentially another 30 years. Assure that as little future tax liability as possible accrue s to his children. B. Utilize family limited partnerships to accomplish long- term minimization of the client’s tax liability. Consider the mechanics of these e state planning vehicles and the appropriate authority to cite. Guidelines for Submission: Your paper must be submitted as a 2 –3-page Microsoft Word document with double spacing, 12-point T imes New Roman fo nt, one- inch margins, and at least three sources cited in APA format. Critical Elements Proficient (100%) Needs Improvement (70%) Not Evident (0%) Value Introduction: Estate Creates an estate planning strategy that reflects versatility of thought and minimizes estate and gift tax liability over time Creates an estate planning strategy but lacks evidence of versatility of thought or detail in showing how estate and gift tax liability is minimized over time Does not create an estate planning strategy 40 Introduction: Family Utilizes family limited partnerships to accomplish long -term minimization of the client’s estate tax liability Utilizes family limited partnerships, but details do not show a minimization of the client’s tax liability Does not utilize family limited partnerships 40 Articulation of Response Submission has no major errors related to citations, grammar, spelling, syntax, or organization Submission has major errors related to cit ations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas 20 Total 100%