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- Title
Estate & Succession Planning Corner.
- Authors
Richman, Lawrence I.
- Abstract
The article informs about the shifting of the U.S. Internal Revenue Service (IRS) approach to incomplete gifts and the annual exclusion. Recently the IRS chief counsels office issued internal legal memorandum, which addresses a situation where two donors, presumably husband and wife establish an irrevocable trust. If their adult son would become the sole trustee, then the beneficiaries of the trust would be the donor's children, grand children, their lineal descendants and their spouses.
- Subjects
UNITED States. Internal Revenue Service; CHARITABLE uses, trusts, &; foundations; GIFTS; RIGHT of exclusion; MEMORANDUMS; IRREVOCABLE trusts; BENEFICIARIES; TRUSTS &; trustees
- Publication
Journal of Passthrough Entities, 2012, Vol 15, Issue 3, p9
- ISSN
1099-7407
- Publication type
Article