• Private annuity transaction deemed sale of interest in QTIP trusts under Internal Revenue Code Sec- tion 2519—In Estate of Virginia Kite v. Commissioner, T.C. Memo. 2013-43 (Feb. 7, 2013), the Tax Court addressed the tax consequences of a series of transactions involving marital trusts for the benefit of Virginia Kite. Three trusts were at issue. The first was a qualified terminable interest property (QTIP) trust that Virginia established during her life for her husband, ...

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