Transfer of assets to family partnership was not a taxable gift
Article Abstract:
The authors discuss the US Tax Court's decision in Estate of Strangi, in which the court ruled that the family limited partnership used by the decedent was valid under Texas law and would not be disregarded for estate tax purposes.
Publication Name: Estate Planning
Subject: Law
ISSN: 0094-1794
Year: 2001
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No marital deduction for assets passing under settlement agreement
Article Abstract:
The authors discuss the US District Court for New Jersey's decision in Estate of Mergott, in which the court denied the marital deduction on assets passed to a surviving spouse under settlement agreements.
Publication Name: Estate Planning
Subject: Law
ISSN: 0094-1794
Year: 2001
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Donees' agreement to pay future tax did not reduce gift's value
Article Abstract:
The authors discuss the US District Court for the Western District of Virginia's decision in Frank Armstrong Jr. Trust, in which the court ruled that a transferees' agreement to assume tax liability for a stock transfer gift did not create an encumbrance reducing the stock's value in regards to the gift tax.
Publication Name: Estate Planning
Subject: Law
ISSN: 0094-1794
Year: 2001
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