Estate Planning 2003Estate Planning 2003
A number of very important developments occurred last year that will have impact on trusts and estates professionals and their clients and customers in 2003 and beyond. Among the most noteworthy: The mid-term election increased the possibility of permanent repeal of federal estate and generation-skipping transfer taxes. The U.S. Tax Court handed down its decision in Hackl, which has caused considerable
Charles A. Redd, partner, Sonnenschein Nath & Rosenthal, St. Louis, Mo.
A number of very important developments occurred last year that will have impact on trusts and estates professionals and their clients and customers in 2003 and beyond. Among the most noteworthy: The mid-term election increased the possibility of permanent repeal of federal estate and generation-skipping transfer taxes. The U.S. Tax Court handed down its decision in Hackl, which has caused considerable discomfort among estate planners about whether interests in limited liability companies and limited partnerships should be used for annual exclusion gift-giving. Also, the Treasury Department and the Internal Revenue Service published proposed regulations relating to sp...
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