|Gift, estate and generation skipping taxes are imposed on the value of
property transferred. Proposed regulations regarding estate planning and
valuation discounts were released on August 2, 2016, and if they become
final, would significantly impact the availability of minority or lack
of control discounts for transfers of family controlled business interests
among family members. In general, the effective date will be the date
the regulations are published as final regulations. Prop. Treas. Reg.
Section 25.2704-3, concerning transfers subject to disregarded restrictions,
will apply to transfers occurring 30 or more days after the date of publication.