United States Fifth Circuit

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KIMBELL v. US, 03-10529

In this estate tax case, district court erred in finding as a matter of law that 1) family members cannot enter into a bona fide transaction, and 2) a transfer of assets in return for a pro rata partnership interest is not a transfer for full and adequate consideration.

Appellate Information

  • Decided 05/20/2004
  • Published 05/20/2004

Judges

  • W. EUGENE DAVIS, Circuit Judge:, Before DAVIS, BARKSDALE and PRADO, Circuit Judges.

Court

  • United States Fifth Circuit

Counsel

  • For Appellant:
  • William Reeder Cousins, III (argued), Robert Don Collier, Michael A. Denham, Meadows, Owens, Collier, Reed, Cousins & Blau, Dallas, TX, Charles R. Watson, Jr., Mullin, Hoard & Brown, Amarillo, TX, for Plaintiff-Appellant., Milford B. Hatcher, Jr.,Jones Day, Atlanta, GA, for American College of Trust and Estate Counsel, Amicus Curiae.

  • For Appellees:
  • Louise P. Hytken (argued), U.S. Dept. of Justice, Tax Div., Dallas, TX, Jonathan S. Cohen, U.S. Dept. of Justice, Tax Div., Washington, DC, for Defendant-Appellee.