Section 2053 Proposed Regs

In an effort to provide uniformity and certainty in the valuation of claims for estate tax purposes, the Department of Treasury issued proposed regulations on April 23, 2007, to clarify that post-death events are to be considered in valuing deductions under Internal Revenue Code Section 2053. Indications are that the final regulations, which are expected by the end of this year, will be substantially similar to the proposed regulations.