The bypass trust, also known as the credit shelter trust, the family trust and the trust, has been the foundation of estate planning for married couples since before I started practicing law. Prior to 2011, such a...
Transferring a personal residence to a qualified personal residence trust (QPRT) is a common estate-planning technique used to make an inexpensive gift of a residence to the next generation. QPRTs may be particularly...
For years, practitioners have employed the estate-planning strategy known as sale to a grantor trust.1 Yet there's still substantial uncertainty and debate about one critical aspect: the detrimental income tax...
Under Internal Revenue Code Section 2642(f)(1), the grantor of a trust cannot effectively allocate generation-skipping transfer (GST) tax exemption to property transferred until the close of the estate tax inclusion...
Coming To A Wal-Mart Near You: Tax-Free GRATs By Deborah V. Dunn, Kirkland & Ellis, Chicago. IL In a victory for taxpayers, the Tax Court held in Walton v. Commr., 115 T.C. No. 41 (2000), that Reg. Sec. 25.2702-3(e)...
