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9. According to 36 MRSA § 4064, Maine property in a trust, LLC or pass-through entity is included in the estate of a nonresident decedent. What Maine property held by the trust, LLC or pass-through entity is includible in the gross value of property?
Generally, all Maine property held by a pass-through entity is included in a nonresident decedent’s estate, unless it meets three tests:
1) The entity carries on a business for the purpose of profit and gain;
2) The ownership of the property in the entity was for a valid business purpose; and
3) The property was acquired by a bona fide sale for full and adequate consideration.
See MRS Rule 601 for further, more comprehensive, information.
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