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Tax Law Update 2008-03-01 (1)Tax Law Update 2008-03-01 (1)
Disclaimed assets pass to grandchildren, not trust. Luckily for the beneficiaries involved, the U.S. District Court for the Western District of Pennsylvania in Offner v. United States, 2008 WL 398823 (W.D. Pa. Feb. 11, 2008) was not forced to engage in subtle distinctions about what qualifies for a charitable deduction. During Deanie Offner's life, she established an irrevocable trust for the maintenance,
David A. Handler, partner & Alison E. Lothes, associate, in Kirkland & Ellis LLP's Chicago office
Disclaimed assets pass to grandchildren, not trust. Luckily for the beneficiaries involved, the U.S. District Court for the Western District of Pennsylvania in Offner v. United States, 2008 WL 398823 (W.D. Pa. Feb. 11, 2008) was not forced to engage in subtle distinctions about what qualifies for a charitable deduction.
During Deanie Offner's life, she established an irrevocable trust for the maintenance, health, support and education of her grandchildren. Under Deanie's will, her children received general legacies, and if any child predeceased her, the child's legacies would pass to that child's descendants. The trust was to receive the resid...
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