Overview of the federal transfer tax regime -- Basic application of the estate tax : property owned by the decedent at death -- General scope of the gift tax : gratuitous transfers of property -- Selected gift tax planning techniques and government challenges -- Transfers excluded from the gift tax base -- Transfers in satisfaction of marital or support obligations -- General principles of transfer tax valuation -- Joint interests in property -- Life insurance -- Transfers with retained beneficial enjoyment -- Transfers with retained powers over beneficial enjoyment -- Transfers with retained reversionary interests -- The adequate and full consideration exception -- Powers of appointment -- Annuities and survivor benefits -- Disclaimers -- Determining the net transfer -- Transfers for charitable purposes -- Treatment of the marital unit -- Tax liability, tax credits, and tax payments -- The generation skipping transfer tax base -- The GST exemption and applicable rate -- The business entity estate freeze -- Contractual agreements concerning the transfer or use of property -- Voting and liquidation rights in closely held entities -- International considerations in federal transfer taxation.
Summary:
"Understanding Estate and Gift Taxation is designed primarily for use by law students taking a course on the United States transfer tax system, i.e., a course on the estate, gift, and generation-skipping transfer taxes. The book consists of 26 chapters, each addressing one of the basic topics typically covered in a course on the transfer tax system, including the computation of estate, gift, and generation-skipping transfer taxes; the gift tax annual exclusion; the estate and gift tax marital deductions; and the estate and gift tax implications of transfers with retained powers or interests. Because the Internal Revenue Code and Treasury Regulations are the primary source materials for the transfer tax system, the book includes numerous excerpts of those provisions. Each chapter also includes summaries of the leading cases and IRS rulings, plus examples of how this area of the law applies to common fact patterns. The new third edition is designed primarily for law students, but it is also intended to be useful to practitioners, including generalists who need a relatively brief summary of an estate and gift tax topic, beginning lawyers who intend to specialize in estate and gift taxation and estate planning, and experienced lawyers who wish to expand their practices into estate and gift taxation and estate planning. The book would also be useful to accountants who practice in these areas"-- Provided by publisher.
This resource is supported by the Institute of Museum and Library Services under the provisions of the Library Services and Technology Act as administered by State Library of Iowa.