Chapter 6 - CHAPTER 6 INTER VIVOS GIFTS

• Jurisdiction: Colorado

Chapter 6 INTER VIVOS GIFTS

Mark D. Masters, Esq.

SYNOPSIS

§ 6.1 REASONS FOR MAKING GIFTS

§ 6.1.1—Tax Considerations
§ 6.1.2—Other Motives

§ 6.2 FEDERAL GIFT AND ESTATE TAX IMPLICATIONS

§ 6.2.1—Transfers to Which Gift Tax Is Applicable
§ 6.2.2—Transfers Within Three Years Prior to Death
§ 6.2.3—Unified Credit
§ 6.2.4—Exclusions
§ 6.2.5—Marital Deduction
§ 6.2.6—Gift Splitting
§ 6.2.7—Rates of Tax
§ 6.2.8—Powers of Appointment
§ 6.2.9—Joint Tenancies
§ 6.2.10—Gifts to Minors — Uniform Transfers to Minors Act
§ 6.2.11—A Comment About Income Taxes

§ 6.3 FEDERAL GIFT TAX IMPLICATIONS — I.R.C. CHAPTER 14 SPECIAL VALUATION RULES

§ 6.3.1—Overview
§ 6.3.2—Transfers of Interests in Corporations and Partnerships (I.R.C. § 2701)
§ 6.3.3—Transfers of Interests in Trust (I.R.C. § 2702)
§ 6.3.4—Buy-Sell Agreements (I.R.C. § 2703)
§ 6.3.5—Lapsing Rights and Liquidation Restrictions (I.R.C. § 2704)

§ 6.4 STATE GIFT TAX IMPLICATIONS

§ 6.4.1—Colorado
§ 6.4.2—Other States

§ 6.5 INCOME TAX IMPLICATIONS

§ 6.5.1—In General
§ 6.5.2—Grantor Trusts
§ 6.5.3—Short-Term Trusts
§ 6.5.4—Interest-Free Loans, Rent-Free Use of Property
§ 6.5.5—Gifts to Minors

§ 6.6 SELECTING GIFT PROPERTY — TAX CONSIDERATIONS

§ 6.6.1—Basis
§ 6.6.2—Anticipated Appreciation
§ 6.6.3—Life Insurance
§ 6.6.4—Wasting Assets
§ 6.6.5—Valuation Problems
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