Tag Archives: estate tax

2009 Gift & Estate Tax Decisions of Note

2009 Gift & Estate Tax Decisions of Note

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Estate Planning Synopsis

The level of sophistication of estate plans varies with the size and complexity of an individual’s estate. A carefully drafted Will or revocable inter vivos trust is the starting point for many estate plans. Continue reading

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Requirement of Filing Federal Gift Tax Return

The requirement of filing a federal gift tax return arises when one has made a completed taxable gift. Incomplete gifts do not impose any gift tax filing requirement. Thus, the donor’s gift of a diamond ring would exemplify a completed gift. However, if the donor reserved the power to revest beneficial title in the ring to himself at a later date, the gift would be incomplete.
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The IRC § 2036 Trap in Planning With FLPs & Grantor Trusts

Printer-friendly PDF Memorandum:  The IRC § 2036 Trap in Planning With FLPs & Grantor Trusts.wpd The IRS has advanced many theories to challenge the gift and estate tax savings occasioned by the use of family entities and grantor trusts in … Continue reading

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Negotiating the Generaton-Skipping Tax

The Generation-Skipping Transfer (GST) tax thwarts multigenerational transfers of wealth by imposing a transfer tax “toll” at each generational level. Prior to its enactment, beneficiaries of multigenerational trusts were granted lifetime interests of income or principal, or use of trust assets, but those lifetime interests never rose to the level of ownership. Thus, it was possible for the trust to avoid imposition of gift or estate tax indefinitely. Continue reading

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Tax News & Comment — March 2010

Tax News & Comment — March 2010

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The Federal Gift Tax Return Form 709: Tax and Legal Issues

With little Congressional interest in increasing the $1 million lifetime exemption, familiarity with gift tax is important in estate planning. This seminar will first consider legal requirements for a completed gift. Filing requirements will then be reviewed. Gifts exempt from … Continue reading

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Estate Planning in 2010

© 2010 Law Offices of David L. Silverman, J.D., LL.M, Lake Success,  NY  11042   (516) 466-5900 Estate Planning in 2010 For PDF Version, press here: Estate Planning Treatise FD I.      Period of Uncertainty The federal estate tax was repealed midnight, … Continue reading

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