Proposed regulations prescribe when standard valuation tables may be disregarded
Article Abstract:
Proposed regulations issued by the IRS in 1994 identify and categorize those instances when departures from IRC section 7520 valuation rules are appropriate. Case law and IRS rulings had arisen that identified when it was appropriate to deviate from standard actuarial tables in the valuation of split-interest charitable trusts, annuities and other partial interests. The proposed regulations, which were finalized in Dec 1995, identify how such transfers should be analyzed and when departure from standard assumptions are appropriate.
Publication Name: Estate Planning
Subject: Law
ISSN: 0094-1794
Year: 1996
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Medicaid planning ideas: what works and what doesn't
Article Abstract:
Medicaid eligibility is based on patients' income and resources and so what is included in these categories is important because trusts over which patients have limited control may be considered part of their resources. Trusts that can block eligibility are called Medicaid Qualifying Trusts. Some trusts are excluded from this category if the trustee has no discretion over distributions, they are testamentary, inter vivos trusts for a third person or use of the trust would cause undue hardship. Trust arrangements are analyzed.
Publication Name: Estate Planning
Subject: Law
ISSN: 0094-1794
Year: 1993
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New tax law restores favorable treatment for gifts of appreciated stock to private foundations
Article Abstract:
The Taxpayer Relief Act of 1997 permits taxpayers to deduct the full fair market value of stock given to private foundations. However, this provision will only be in effect until Jun 30, 1998. Donors may feel contributions to public charities permit little control after the donation, but donating to a "donor advised fund" may produce tangible results without the limitations usually imposed on gifts to private foundations.
Publication Name: Estate Planning
Subject: Law
ISSN: 0094-1794
Year: 1997
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- Abstracts: IRS proposes regulations on VEBA geographic locale requirement. Termination of employee-funded VEBA does not result in UBTI; distributions to participants taxable only to the extent they exceed their contributions
- Abstracts: Trade spike spurs tax treaty talks; multinationals press Clinton administration to end double taxation. SEC nominee says he'll study curbs on securities suits
- Abstracts: Debt-ridden cos. turning to prepacks; quickie bankruptcies are an effort to tidy balance sheets. Lawsuit is dismissed on security grounds
- Abstracts: Proposed conduit financing regulations. New section 367 temporary regulations. Transfer pricing: the new Section 482 temporary and proposed regulations
- Abstracts: Coase's twin towers: the relation between 'The Nature of the Firm' and 'The Problem of Social Cost.' (Ronald Coase)