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Decedents who died prior to 1982 were subject to a rule requiring that any property transferred by gift within three years prior to the t...

Internal Revenue Code section §2042 deals with the inclusion in the gross estate, of the proceeds of life insurance policies, payable by ...

Internal Revenue Code (I.R.C.) Section 2037 requires the inclusion in the gross estate of property which had been transferred by gift dur...

The gross estate includes the value of any interest in property transferred by decedent during lifetime, if the enjoyment of the interest...

Internal Revenue Code §72 governs the income taxation of annuity contracts. This post deals with the estate taxation of annuities. Intern...

Internal Revenue Code §2040 sets forth rules dealing with the extent to which property which a decedent co-owned with one or more other p...

Under Internal Revenue Code §2041 the gross estate includes property as to which decedent held a general power of appointment as of the d...

A power of appointment is essentially the right to designate who is to own certain specified property. The essence of the concept can be...

The federal estate tax is based upon the decedent's "gross estate." While the term "gross estate" refers primarily to the property which...

In general terms, Internal Revenue Code Section ("I.R.C. §") 2036 requires the inclusion in the gross estate of property which the deced...

A transfer to a surviving spouse who is not a U.S. citizen will not qualify for the marital deduction. An exception is made, allowing the...

If one of the social purposes of taxing wealth per se is to prevent massive accumulations within families, this theoretically could be ...

Generally speaking a hardship distribution from a 401(k) can be made if there is an immediate and heavy financial need of the employee, t...

In order to elect portability of the decedent's unused exclusion amount (deceased spousal unused exclusion (DSUE) amount) for the benefit...

How can tax planners and their clients meaningfully plan for a tax that may or may not be in place, in presently definable form, in the y...

A will is a legal document that sets forth your wishes regarding the distribution of your property and the care of your minor children af...

The insured buy-sell agreement is a good solution to the problem of close corporation management continuity. No other plan carries with i...

Usually, when a taxpayer transfers assets to an irrevocable trust for the benefit of another person, the transferor pays gift tax on the ...

A charitable remainder trust is an irrevocable trust wherein the grantor/donor can effectively sell appreciated assets without immediate ...

A qualified disclaimer is an irrevocable and unqualified refusal to accept an interest in property. Because the system of wealth transfer...