Robert Adler6 days agoGifts Made Within Three Years of Death - I.R.C. §2035Decedents who died prior to 1982 were subject to a rule requiring that any property transferred by gift within three years prior to the t...
Robert Adler6 days agoProceeds of Life Insurance - I.R.C. §2042Internal Revenue Code section §2042 deals with the inclusion in the gross estate, of the proceeds of life insurance policies, payable by ...
Robert Adler6 days agoTransfers Taking Effect at Death - I.R.C. §2037Internal Revenue Code (I.R.C.) Section 2037 requires the inclusion in the gross estate of property which had been transferred by gift dur...
Robert Adler6 days agoRevocable Transfers - I.R.C. §2038The gross estate includes the value of any interest in property transferred by decedent during lifetime, if the enjoyment of the interest...
Robert Adler7 days agoAnnuities - I.R.C. §2039Internal Revenue Code §72 governs the income taxation of annuity contracts. This post deals with the estate taxation of annuities. Intern...
Robert Adler7 days agoJointly Owned Property - I.R.C. §2040Internal Revenue Code §2040 sets forth rules dealing with the extent to which property which a decedent co-owned with one or more other p...
Robert Adler7 days agoProperty Subject to General Power of Appointment - I.R.C. §2041Under Internal Revenue Code §2041 the gross estate includes property as to which decedent held a general power of appointment as of the d...
Robert Adler7 days agoWhat is a Power of Appointment?A power of appointment is essentially the right to designate who is to own certain specified property. The essence of the concept can be...
Robert AdlerJan 5What Assets Are Subject to Federal Estate Tax?The federal estate tax is based upon the decedent's "gross estate." While the term "gross estate" refers primarily to the property which...
Robert AdlerJan 5Property Transferred With Retained Life Estate - I.R.C. §2036In general terms, Internal Revenue Code Section ("I.R.C. §") 2036 requires the inclusion in the gross estate of property which the deced...
Robert AdlerJan 5Qualified Domestic TrustA 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...
Robert AdlerJan 5Basic Purpose of the Federal Gift TaxIf one of the social purposes of taxing wealth per se is to prevent massive accumulations within families, this theoretically could be ...
Robert AdlerJan 3Hardship Distributions From 401(k) PlansGenerally speaking a hardship distribution from a 401(k) can be made if there is an immediate and heavy financial need of the employee, t...
Robert AdlerJan 1Portability Election - Deceased Spousal Unused Exclusion (DSUE) AmountIn order to elect portability of the decedent's unused exclusion amount (deceased spousal unused exclusion (DSUE) amount) for the benefit...
Robert AdlerDec 27, 2020Estate Planning in Times of Unstable Estate Tax Law and PolicyHow 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...
Robert AdlerDec 19, 2020Wills and Estate PlanningA will is a legal document that sets forth your wishes regarding the distribution of your property and the care of your minor children af...
Robert AdlerDec 19, 2020Buy Sell Agreements (Cross Purchase and Stock Redemption)The insured buy-sell agreement is a good solution to the problem of close corporation management continuity. No other plan carries with i...
Robert AdlerNov 26, 2020Grantor Retained Annuity Trusts (“GRATs”)Usually, when a taxpayer transfers assets to an irrevocable trust for the benefit of another person, the transferor pays gift tax on the ...
Robert AdlerNov 25, 2020What is a Charitable Remainder Trust?A charitable remainder trust is an irrevocable trust wherein the grantor/donor can effectively sell appreciated assets without immediate ...
Robert AdlerNov 24, 2020What is a Qualified Disclaimer?A qualified disclaimer is an irrevocable and unqualified refusal to accept an interest in property. Because the system of wealth transfer...