Significant recent developments in estate planning.
The Tax Adviser › Vol. 32 Nbr. 9, September 2001
Linked as:
Extract
Significant recent developments in estate planning.
EXECUTIVE SUMMARY
* In Schuler, the Tax Court examined the reciprocal-transaction doctrine; in Rosano, the Second Circuit rejected application of the relation-back doctrine. * In Notice 2001-10, the IRS reversed over 35 years of rulings and notices by announcing a new income tax treatment of split-dollar life insurance. * In a series of significant cases, the Tax Court offered practitioners some clear guidance on whether the IRS's Chapter 14 pronouncements will bar FLP use. This article--the second of two parts--examines recent developments in estate, gift and generation-skipping transfer tax planning. Specifically, this part highlights recent cases and rulings on grantor retained income trusts, valuation, gift disclosure, gift tax annual exclusion, family limited partnerships and split-dollar life insurance. This two-part article focuses on recent developments in estate, gift and generation-skipping transfer taxes. Part I, in the last issue, discussed new legislation and regulations; Part II, below, examines cases and rulings on grantor retained income trusts (GRATs), valuation, gift disclosure, gift tax annual exclusion, family limited partnerships (FLPs) and split-dollar life insurance. Cases and ...See the full content of this document
Sponsored links
