Tax Management Estates, Gifts and Trusts Journal 1992: Vol 17 Index

13 Pages·1992·4.5 MB·English

Board of Index Editors: Enid Zafran, Esq., FILE this index behind the Index tab in the Estates, Gifts
Chief ; Marjorie F. Cohen, Esq., Manager; and Trusts Journal Binder. DISCARD 1992 Semi-Annual
Barry A. Ponticelli, Esq., Index Editor Index. RETAIN all other previous Indexes.
TAX MANAGEMENT
ESTATES, GIFTS AND TRUSTS JOURNAL
1992 INDEX
This alphabetical keyword index covers all the ESTATES, GIFTS AND TRUSTS JOURNALS issued by Tax
Management from January 1992 through December 1992. See also TABLE OF AUTHORS, TABLE OF CASES and
TABLE OF IRS DECISIONS AND RULINGS at the end of the Index.
Numbers in the citations refer to particular page numbers of the 1992 Estates, Gifts and Trusts Journals.
A —Value of extracted oil and gas to be deter- ASCERTAINABLE STANDARD EXCLU-
mined as they existed at the date of death SION
ACCOUNTING (CA 10), 160 Trustee’s discretion to distribute principal to
Pooled income funds, depreciation reserve must himself for “comfort” held not ascertainable
use generally accepted accounting principles ANNUAL GIFT TAX EXCLUSION standard, property includable in gross estate
Beneficiaries with 15-day Crummey demand (US TC), 15
powers exercisable on death of grantor need
ACCUMULATION DISTRIBUTIONS not have present interest in trust corpus or ASSUMPTION OF LIABILITIES
Trust’s accumulation of income while situated income from trust interests to qualify for ex- See ENCUMBERED PROPERTY
abroad and distribution after move to U.S. clusion (US TC), 23
treated as distribution by foreign trust sub- Crummey powers over additions to direct skip B
ject to income tax and interest charges (RR), trusts created for benefit of grandchildren
6 qualify for exclusion (PLR), 26 BANKRUPTCY
Estate planning, 55 Gift tax liability not discharged where gift tax
ACTUARIAL ASSUMPTIONS Gifts within three years of decedent’s death, return not filed (DC Colo), 66
Interest income from closely-held business stock distribution from revocable trust by non-set- Seizure of ERISA pension plan benefits, 116
in GRIT, valuation may be based on tlor trustee included in settlor’s gross estate,
§25.2512-5(f) table despite return lower than including amounts within annual gift tax ex- BASIS
table’s assumed rate (US TC), 25 clusion (TAM), 158 See also STEPPED-UP BASIS AT DEATH
Partnership interests gifts from general part- Gifts, 31
ADMINISTRATION EXPENSES ner/donor are present interests eligible for Joint property, marital deduction for charitable
Business expenses incurred in operating busi- exclusion (PLR), 24 contributions, 85
ness after electing to defer payment of state Split-dollar life insurance plans, 50
tax under §6166 not deductible (TAM), 16 Transfer of stock to 29 individuals who signed BELOW-MARKE7 INTEREST RATE
Equine stud fees, expenses for improving estate blank certificates to be reissued to grantor’s Applicable Federal Rates
assets, while deductible under state law, not family amounted to fraud (CA 10), 23 —Exceptions, 134
deductible for estate tax purposes (CA 4), 16 —Use, 133
QTIP trust expenses of beneficiary deductible ANNUITIES Buy-sell agreements, 105
from beneficiary’s estate only to extent ex- See CHARITABLE INCOME TRUSTS; Intra-family sales, 131
penses attributable to beneficiary’s death JOINT AND SURVIVOR ANNUITIES Legislative proposals, 138
(TAM), 16
APPLICABLE FEDERAL RATES (AFR) BEQUESTS
ADMINISTRATION OF ESTATE Intra-family sales, 131 et. seq. Charitable contributions, funding with IRD
Formemn ts1 09m9a, dees tatot e lanwe efdi rmn otf ori sssueer vifcoers m asf oerx epcauy-- APPORTIONMENT OF FEDERAL ESTATE items, 142
tor (PLR), 9 TAX BUY-SELL AGREEMENTS
Charitable estate tax deduction reduced by Below-market interest rate loans, 105
ADMINISTRATIVE REVIEW amount of estate tax apportioned to charita- Cross-purchase agreements, 100; 103
Inconsistencies in treatment of fees paid for ble bequest’s portion of residuary estate ESOPs (Employee stock ownership plans), 100;
participation in religious services of Church (TAM), 17 105
of Scientology as charitable contributions Taxes may not be disproportionately allocated Estate freezes
states cause of action (CA 11), 3 between probatable assets and assets held in —Amendments changing number of authorized
ALIENS tlaewn an(cCyA by4) ,t he1 8 entirety assets under Virginia sbhuasriense ssa ndw ilrle duncoitn g tepramri nvaatleu e girn acnldofsaetlyh-ehreeldd
See NON-RESIDENT ALIENS
APPRAISALS status (PLR), 28
ALLOCATIONS UNDER §482 Charitable contributions, 118 —Estate planning, 108
Foreign trust which resident alien grantor re- Qualified appraiser, 120 Estate planning, 99
tained certain interests and powers disregard- Family corporations, 106
ed for income tax purposes, income reallocat- APPRECIATED PROPERTY Family partnership agreement restricting trans-
ed under §482 to domestic corporation (RR), Charitable contributions appraisal rules, 118 fer of interest and giving surviving partners
6 Sale by trust, 32 right to buy at price equal to deceased part-
ner’s capital account did not establish estate
ALTERNATE VALUATION DATE ART tax value (TAM), 11
Oil and gas Lending foreign situs art work to U.S. museum Funding, 100
—Risk reduction factor not significant for valu- does not subject property to US. estate tax Pricing, 101
ation during first six months after death (US (PLR), 21 Purchase or call option, 112
Valuation, “blockage,” 167 Put options, 112
Copyright © 1993 Tax Management Inc. ., a Subsidiary of The Bureau of National Affairs, Inc., 1231 25th Street, N.W., Washington, D.C. 20037
0886-3547/93/$0+.50
CAL
2 TAX MANAGEMENT
BUY-SELL AGREEMENTS—Contd. Order of reformation not requested within ap- Retention of right to revoke spouse’s interest,
Redemption agreements, 100; 104 propriate time does not save defective chari- 85
Related party transactions, 106 table remainder trust (CA 6), 17 Right to change order of recipients of unitrust
Restricted property, §83, 105 Residuary estate not ascertainable at dece- payments constitutes retention of right to al-
Right of first refusal, 112 dent’s death due to executor’s power to select ter, amend, or revoke trust which would dis-
S corporations unspecified number of pre-residuary be- qualify trust (PLR), 5
—Estate planning, 107 quests, deduction disallowed (US TC), 17 Right to revoke spouse’s interest, replace trust-
—Single class of stock requirement, Prop. Voluntary transfer of funds to convert non-qual- ees, and change charitable remainder benefi-
Regs., 8 ifying charitable remainder trust into deduct- ciary makes gifts incomplete for gift tax pur-
State law restrictions on redemptions, 103 ible interest not deductible (US TC), 17 poses but not income tax purposes (PLR), 6
Valuation restrictions, 182 Unitrust, model language issued by IRS (RR),
Waiver of right to buy stock at discount price CHARITABLE GIFT TAX DEDUCTION 157
under buy-sell agreement constitutes gift See also CHARITABLE CONTRIBUTIONS Voluntary transfer of non-estate funds to con-
(PLR), 24 Life insurance policies, deduction for newly is- vert non-qualifying trust into deductible in-
sued policy, IRS revokes prior ruling denying terest not deductible as charitable contribu-
_k income, estate or gift tax deduction for New tion from estate (US TC), 17
York policies (PLR), 38
CALL OPTION CHILD SUPPORT OBLIGATION
See PUTS AND CALLS CHARITABLE INCOME TAX DEDUCTION Gifts, 30
See also CHARITABLE CONTRIBUTIONS
CANCELLATION OF INDEBTEDNESS Assumption of mortgage by trust does not cre- CLOSELY-HELD CORPORATIONS
Installment obligations ate grantor trust entitling grantor to income See also ESTATE FREEZES; EXTENSION
—Cancellation in will constitutes transfer of tax deduction for present value of charitable OF TIME FOR PAYMENT OF ESTATE
right to receive income in respect of decedent annuity (PLR), 7 TAX; INTRA-FAMILY SALES; VALUA-
ee no deduction for estate (PLR), 5; Borrowed funds, at 3 percent interest and TION OF CLOSELY-HELD CORPORA-
pledged to certain public charity, contributed TION STOCK
—Gain on self-cancelling note reportable on de- by taxpayer to that charity and loaned back Buy-sell agreements, 99 et. seq.
c1e 8d8e nt’s final income tax return (US TC), itob lel en(dCiAn g 9c),o r4p oration by charity, not deduct- Est2a8t e freezes, proposed regulations issued, 27;
Transfer of real property by mother to children Charitable income trusts, funding with IRD
in return for self-cancelling promissory note items, 144 Minority discounts, estate planning, 59
not gift (TCM), 188 Charitable remainder trusts, funding with IRD Stock dividend of nonvoting stock followed by
items, 144 redemption of estate’s nonvoting stock quali-
CAPITAL ASSETS Condemnations, gift of excess of market value fies as §303 sale or exchange (PLR), 5
Newspaper clippings of publishing firm not cap- of property over value of condemnation set-
ital asset entitled to charitable contribution tlement not deductible (US CtCls), 4 COLLECTIBLES
deduction (US TC), 4 Income in respect of decedent, funding with, See ART
140
CAPITAL EXPENDITURES Life insurance policy donated to public charity COLLECTION OF TAX
Fee paid by estate to liquidate equine stud not entitled to deduction for lack of insurable Installment agreements, 114
agreement held non-deductible capital expen- interest under N.Y. state law (PLR), 4; rul- Marital share of estate must be reduced where
diture (CA 4), 16 ing denying deduction for newly issued policy residuary assets insufficient to pay estate tax
revoked following state law change, 38 (CA 7), 1
CARRYOVERS AND CARRYBACKS
Newspaper clippings of publishing firm not cap-
See also OWNERSHIP CHANGES, §382 ital asset entitled to charitable contribution COMMON DISASTER
LOSS LIMITATION deduction (US TC), 4 See also SIMULTANEOUS DEATH
CHARITABLE CONTRIBUTIONS CHARITABLE INCOME TRUSTS Decedent’s property passed to estate of spouse
See also CHARITABLE ESTATE TAX DE- Assumption of mortgage by trust does not cre- surviving for 38 hours where decedent’s will
TDAUXC TIDOEND;U CTICOHNA;R IVTAALBULAET IOINN COME attaex gdreadnutcotri ont rusfto r epnrteistelinntg vgarlaunet oorf ctho ariintcaobmlee a1d2o pted rule different from state law (CA 9),
Administrative inconsistencies in treatment of annuity (PLR), 7
fees paid for participation in religious ser- Estate planning, 58 CONDEMNATION AWARDS
vices of Church of Scientology states cause of Generation-skipping transfer tax, step-up rule Charitable gift of excess of market value of
action (CA 11), 3 applies only to direct-skip gifts, trust not skip property over value of condemnation settle-
Appraisal rules, 118 person (PLR), 27 ment not deductible (US CtCls), 4
Estate planning, 57 Income in respect of decedent, funding with,
—- deduction (estate tax), estate planning, 144 CONSIDERATION
Marital deduction, joint and survivor annuities, Liquidation and reformation of trust with same
Scenic easements, donation partly motivated by 87 assets is transfer made for full consideration
charity’s promise of tax deduction has dona- Private foundation distributions, amount re- and not gift under §2511 (PLR), 24
tive intent despite desire to obtain tax advan- quired to be distributed from income received
tages (US CtCis), 3 from charitable income trust is defined in CORPORATIONS
CHARITABLE ESTATE TAX DEDUCTION terms of minimum investment return to avoid See CLOSELY-HELD CORPORATIONS
§4942 penalty (US TC), 9
See also CHARITABLE CONTRIBUTIONS
Bequest made to disabled person to be held in CHARITABLE LEAD TRUSTS CREDITS AGAINST TAX
trust for relief of handicapped persons to See CHARITABLE INCOME TRUSTS See ESTATE TAX CREDIT FOR TAX ON
PRIOR TRANSFERS
avoid affecting Medicaid benefits never in-
tended for charitable purposes, deduction de- CHARITABLE REMAINDER TRUSTS
nied (TAM), 88 Annuity trust, model language issued by IRS CRUMMEY TRUSTS
Estate tax apportioned according to charitable (RR), 157 Beneficiaries with 15-day demand powers exer-
ye eer Ss portion of oe estate reduces Estate planning, 58; 84 cisable on death of grantor need not have
deduction (TAM), Income in respect of decedent, funding with, present interest in trust corpus or income for
Failure of unfunded Awd foundation to apply 144 trust interests to qualify for annual gift tax
for exempt status before death of decedent Personal residence, 86 exclusion (US TC), 23
leaving residuary gift to organization does Qualified subchapter S trusts, §664 trust can- Children of trust beneficiaries granted 20-day
- defeat availability of deduction (PLR), not qualify (RR), 156 Crummey powers lack substantial beneficial
1 Reformation of defective trust, failure to re- interest in trust to allow annual gift tax exclu-
Life insurance policies, deduction for newly is- quest within appropriate time results in deni- sion (TAM), 23
sued policy, IRS revokes prior ruling denying al of estate tax deduction (CA 6), 17 Generation-skipping transfers
income, estate or gift tax deduction for New Residuary estate not ascertainable at dece- —Estate planning, 154
York policies (PLR), 38 dent’s death due to executor’s power to select —Trusts created for benefit of grandchildren
Mixed purpose trust interpreted by state court unspecified number of pre-residuary be- with Crummey power over additions to trust
to be split-interest trust, fails to comply with quests, estate tax deduction disallowed (US qualify for annual gift tax exclusion and ex-
§2055(e)(2) (CA 5), 16 TC), 17 cludable for GST purposes (PLR), 26
EST
ESTATES, GIFTS AND TRUSTS JOURNAL — 1992 INDEX 3
D DIVORCE trust, §1042 non-recognition rules applicable
QTIPs, state law revoking any disposition or to qualified securities sold to ESOP (PLR), 6
DEATH BENEFITS appointment of property made by trust upon
Value of benefit payable to surviving spouse not divorce not protected by spendthrift clause ESTATE FREEZES
gift (RR), 190 (TAM), 26 Adjustments to mitigate double taxation, Prop.
Stepgrandparents, estate planning, 173 Regs., 78
DEATH OR RETIREMENT OF PARTNER Buy-sell agreements
Estate tax lien against deceased partner does E —Amendments changing number of authorized
not follow property redeemed by partnership shares and reducing par value will not termi-
but follows partnership interest (CA 6), 21 EASEMENTS nate grandfathered status (PLR), 28
Real estate sale gain not income in respect of Charitable contribution of scenic easement —Estate planning, 108; 182
decedent where conditions of sale not fulfilled partly motivated by charity’s promise of tax Gifts, valuation restrictions, 181
before death of partner (PLR), 7 deduction has donative intent despite desire Lapsing rights and restrictions, 182
to obtain tax advantages (US CtCls), 3 Proposed regulations issued, 27; §2704 rules on
DEFERRED COMPENSATION PLANS lapsing rights and restrictions on liquidations
Rabbi trusts, model form issued by IRS (RP), ECONOMIC RECOVERY TAX ACT OF 1981 of corporation and partnership interests is-
159 Pre-ERTA marital deduction clause equalizing sued, 28
taxable estates but not referring to “maxi- Retained interests, 179
DEPRECIATION mum marital deduction” limits deduction to Technical corrections to special valuation rules,
Pooled income funds, depreciation reserve must 50 percent pre-ERTA standard (CA 6), 18 see LEGISLATION, FEDERAL, HR 1555,
be use generally accepted accounting princi- HR 2777
ples (RR), 5 ELECTIONS Valuation restrictions, 179
See also SPECIAL USE REAL PROPERTY
DISCLAIMERS VALUATION ELECTION, §2032A ESTATE PLANNING
Disclaimant’s directorship relationship with Extension of time to make certain elections, Fi- Annual gift tax exclusion, 55
foundation to which disclaimed property nal Regs. §301.9100-1 issued, 22 Buy-sell agreements, 99
passes not bar to valid disclaimer where dis- Extension of time to make TAMRA 1988 elec- Charitable contributions, 57
tribution of income and principal rested with tion to recognize income from short taxable Charitable income trusts, 58
independent directors (PLR), 26 year of trust, due to TRA 1986 taxable year Charitable remainder trusts, 58
Family settlement agreement between spouse requirement, over four year period granted Death bed planning, 55
and minor children not to probate will is dis- where good cause shown (PLR), 5 Flower bonds, 61
claimer and subsequent disclaimers operate QTIPs Generation-skipping transfers
to direct property back to surviving spouse to —Curing defective elections, Final Regs., 65 —Deceased parent rule in context of QTIP
qualify for marital deduction (TAM), 158 —Election deemed made if property listed on trusts, 151
Qualified plan benefits disclaimed by surviving Form 706, Schedule M, 66 Gifts, 55
spouse neither prohibited assignment or S corporation status, executor may consent to Marital deduction, charitable contributions, 84
alienation nor assignment of income under election on behalf of deceased shareholder Minority shareholders, transfers to obtain dis-
ERISA (GCM), 7 (RR), 189 count, 59
Remainder interests, disclaimer must be made Surviving spouse’s election against will, proper- Pooled income fund, 58
within reasonable time after creation of inter- ty acquired thereby and transferred to life Post-death elections, 61
est, not after vesting (CA 8), 25 estate not qualified for QTIP treatment Private annuities, 60
Tenancy by the entirety, disclaimer of survivor- (PLR), 20 Probate avoidance, 59
ship interest under Ark. law requires dis- Reciprocal trust doctrine, 71
claimer to be made within nine months of EMERGENCY UNEMPLOYMENT COM- Revocable trusts, 59
transfer of real property to decedent and PENSATION ACT OF 1991 Stepgrandparents, 173
spouse, not on death of decedent (TAM), 88 Estimated tax calculation for individuals, trusts, Transfers to spouse, 57
Truesrt eteo ihnavsa dneo tirnuhsetr ecnotr pupso wefro r tsop oduissec’lsa imb enpeofwi-t and estates, 9 ESTATE TAX
ea will did not authorize disclaimer (RR), EMPLOYEE STOCK OWNERSHIP PLANS See also EXTENSION OF TIME FOR PAY-
See ESOPs (EMPLOYEE STOCK OWNER- MENT OF ESTATE TAX
SHIP PLANS Computation, limitation period for assessing
DISTRIBUTIONS, ESTATES AND TRUSTS gift tax, IRS may make adjustments to estate
Cancellation of installment obligation in will ENCUMBERED PROPERTY tax computation after period expired (US
constitutes transfer of right to receive income Charitable income annuity trust assumption of
in respect of decedent producing no deduc- grantor’s mortgage did not create grantor IRAs, estate tax exemption is available only if
tion for estate (PLR), 5; 7 trust entitling grantor to income tax deduc- decedent qualifies for exemption under 1984
Deduction by estate for distribution of earned tion for value of charitable annuity (PLR), 7 grandfather provisions of TRA of 1984 (RR),
income not expressly provided for in will and QTIPs, property encumbered as guarantees for 89
without court authorization denied (DC bank loans not qualified for QTIP treatment Lending foreign situs art work to U.S. museum
WOkla), 5 (PLR), 20 does not subject property to U.S. estate tax
Exclusion form gross estate for revocable trust (PLR), 21
distributions within three years of decedent’s ENVIRONMENTAL LIABILITY Private letter rulings, checklist for points to be
death, HR 2777 proposal, 14 Discount for cleanup costs of contaminated land covered (RR), 22
Qualified subchapter S trusts, distribution of denied (US TCM), 193 Qualified employee benefit plans, grandfather
income from last distribution date prior to provision under 1982 amendment repealing
death to time of death to estate or successor ERISA (EMPLOYEE RETIREMENT IN- §2039(c) exemption available where dece-
does not violate one income beneficiary rule COME SECURITY ACT) dent changed designation of beneficiary but
(RR), 190 Bankruptcy, seizure of benefits, 116 not form of benefit (PLR), 88
Disclaimer of benefits from qualified retire- Split-dollar life insurance plans, 51
DISTRIBUTIONS, PENSION & PROFIT- ment plan by surviving spouse neither prohib-
SHARING PLANS ited assignment or alienation nor assignment ESTATE TAX CREDIT FOR TAX ON PRIOR
Disclaimers, actual recipient of benefits taxable of income under ERISA (GCM), 7 TRANSFERS
under §691(a) as income in respect of dece- Seizure of benefits, IRS authority, 113 Interest on estate tax paid under §6166 install-
dent (GCM), 7 —lInstallment agreements, 114 ment election to protect surviving spouse’s
Estate tax exemption, grandfather provision un- —Offers in compromise, 115 joint tenancy property not taken into account
der 19§2 amendment repealing §2039(c) ex- in computing credit (US TC), 10
emption available where decedent changed ESOPs (EMPLOYEE STOCK OWNERSHIP Simultaneous death precludes credit for usu-
designation of beneficiary but not form of PLANS) fruct (CA 5), 10
benefit (PLR), 88 Buy-sell agreements, 100; 105
Retroactive amendment of §2057 requiring ESTATE TAX DEDUCTIONS
DISTRIBUTIONS, PRIVATE FOUNDA- ownership of employer securities by decedent See also ADMINISTRATION EXPENSES;
TIONS before death to qualify for deduction upheld CHARITABLE ESTATE TAX DEDUC-
Amount required to be distributed from income —(CA 9), 191 TION
received from charitable income trust is de- —(DC ELa), 124 Business expenses incurred in operating busi-
fined in terms of minimum investment return Trust created by company owner to purchase ness after electing to defer payment of tax
to avoid §4942 penalty (US TC), 9 and hold replacement securities is grantor under §6166 not deductible (TAM), 16
EST
4 TAX MANAGEMENT
ESTATE TAX DEDUCTIONS—Contd. account did not establish estate tax value Step-up rule applies only to direct-skip gifts,
Charitable contributions, funding with IRD (TAM), 11 charitable income trust not skip person
items, 144 Gifts of partnership interests from general part- (PLR), 27
Equine stud fees, expenses for improving estate ner/donor are present interests eligible for Testamentary marital trust may be divided into
assets, while deductible under state law, not annual gift tax exclusion (PLR), 24 two trusts, with reserve QTIP election being
deductible for estate tax purposes (CA 4), 16 Valuation, agreement restricting transfer of in- made as to trust in which GST exemption
ESOPs terest and giving surviving partners right to allocated (PLR), 27
—Retroactive amendment of §2057 requiring buy at price equal to deceased partner’s capi-
ownership of employer securities by decedent tal account did not establish estate tax value GIFT TAX
before death to qualify for deduction upheld (TAM), 11 See also ANNUAL GIFT TAX EXCLU-
SION; MARITAL DEDUCTION (GIFT
——(CA 9), 191
——(DC ELa), 124 FARMING TAX)
QTIP trust expenses of beneficiary deductible See SPECIAL USE REAL PROPERTY VAL- Applicable Federal Rate, use, 133
from beneficiary’s estate only to extent ex- UATION ELECTION, §2032A Bankruptcy, tax liability not discharged where
penses attributable to beneficiary’s death gift tax return not filed (DC Colo), 66
(TAM), 16 FIDUCIARIES Charitable remainder trust, right to revoke
See TRUSTEES spouse’s interest, replace trustees, and change
ESTATE TAX LIENS charitable remainder beneficiary makes gifts
See TAX LIENS FLOWER BONDS incomplete for gift tax purposes but not in-
Post-death estate planning, 61 come tax purposes (PLR), 6
ESTATE TAX MARITAL DEDUCTION Intra-family transfers, 131
> DEDUCTION (ESTATE FOREIGN PERSONAL HOLDING COMPA- Private annuities, 60
NIES Private letter rulings, checklist for points to be
Stepped-up basis at death, basis of stock in for- covered (RR), 22
ESTATE TAX RETURNS eign personal holding company used to fund Split-dollar life insurance plans, 49
Form 706 revised, 10 trust for child not entitled to basis adjustment Statute of limitations, IRS may assess gift tax
QTIP property, Schedule M only requires iden- (PLR), 8 after period by making “line 4” adjustment
tification of interests passing to surviving to estate tax computation (US TCM), 9
spouse, not individual assets (PLR), 20 FOREIGN TRUSTS
Qualified domestic trusts, Form 706-QDT is- See also GRANTOR TRUSTS GIFT TAX RETURNS
sued (Ann.), 20 Accumulation of income while situated abroad Revised Form 709 issued, 23
ESTATES and distribution after move to U.S. treated as GIFTS
Deduction by estate for distribution of earned distribution by foreign trust subject to in- See also CHARITABLE CONTRIBUTIONS;
income not expressly provided for in will and come tax and interest charges (RR), 6 INTRA-FAMILY SALES; REVOCABLE
without court authorization denied (DC FORMS TRANSFERS, §2038; VALUATION
WOkla), 5 Blocks of stock transferred to individuals on
706, Estate and generation-skipping transfer
Estimated tax, new method to calculate quar- tax return, 10 condition that stock certificates be endorsed
terly liability enacted, 9 —Schedule M, Marital deduction, 20; 66 back to taxpayer, gift tax assessment and
fraud penalty upheld (CA 10), 23
ESTIMATED TAX 706-QDT, Qualified domestic trusts, 20
EUCA 1991 revision of method to calculate 709, Gift tax, 23 CDaerartyho vbeern efbiatssi,s , va3l1u e of benefit payable to sur-
quarterly liability, 9 21804989,, PIonfwoerrm aotfi oant torrenteuyr,n , 694 viving spouse not gift (RR), 190
EXECUTORS 8821, Tax information authorization, 64 Disclaimers
—Reasonable time requirement begins to run
QTtIiPtl edc ontdoi timoanrailt alo n deexdeuccuttioorn’ s feolre ctiinotne rensott efno-r FRAUD upon creation of remainder interest, not after
S ewclhoericpctohir oanet lieoocnnt iosbnte ahtmaualsf,d e eoxf(e UcduSet coeTra Cs)em,da y1 9s hcaornesheonltd erto Tracbnoasncfdkei rt itooon f t2ta9hx aptba lyoescrtk,osc k ogifcf etsr ttoitfcaikxc attaoe sssi nebdsiesv mieednnutda olrs saenoddn —Trvepfeuoisswtt etirewn geh e tor( ehCi aAnsv w aild8nle)o ,t dt2iri5dun shte nrocteo nrtpa uustp hoofwroeirrz es ptoodu issdeci’lssa cilbmaeeinmr-
(RR), 189 fraud penalty upheld (CA 10), 23
(RR), 26
EXTENSION OF TIME FOR PAYMENT OF G Guarantee of loan debt without consideration
ESTATE TAX by father to son is taxable gift completed
Interest paid on deferred tax to protect surviv- GAIN OR LOSS RECOGNITION when promise becomes binding (PLR), 25
ing spouse’s joint tenancy property not taken See RECOGNITION OF GAIN OR LOSS Income tax consequences, analysis, 29
into account in computing estate tax credits Kiddie tax, 29
for tax on prior transfers (US TC), 10 GENERATION-SKIPPING TRANSFER TAX Liabilities exceeding basis, 32
Readla y-etsot-atdea y reancttailvsi,t iedse cseod enhti’gsh apsa rttio cicpoantsitoint utien CDercuemamseedy ptarruesntst, r1ul5e4 in context of QTIP trusts, LLoosssseess, fboalsliosw ifnogr ocawlnceurlsahtiinpg ,c h3a2n ges in corpora-
active trade or business eligible for election 151 tion, § 382, 33
(PLR), 23 Direct skip trusts created for benefit of Partnership interests, 33
Refund of overpayment of tax otherwise paya- grandchildren with Crummey power over ad- Passive losses, 34
ble in installments must be applied against ditions to trust qualify for annual gift tax Power of attorney, gifts made during decedent’s
unpaid installments (CA 9), 22 exclusion and excludable for GST purposes lifetime pursuant to power of attorney not
Refund suit may not be maintained unless en- (PLR), 26 expressly authorizing making of gifts not
Fe) - deferred under §6166 is paid (CA Entire estate is GST where present life estate completed (TAM), 188
| interest is held by only skip person followed Promissory notes, 31
by remainder to non-skip person (TAM), 27 S corporations, termination of status resulting
EXTENSION OF TIME TO MAKE ELEC- Great grandchild of decedent not skip-person from gift of stock, 34
TIONS under step-up rule (PLR), 27 Stepped-up basis at death, 31
Final Regs. §301.9001-1 issued, 22 Private letter rulings, checklist for points to be Stock, personal service corporations using cash
covered (RR), 22 method of accounting, 35
F QTIP trust may be divided between pecuniary Support obligation, 30
reverse QTIP and residuary ordinary QTIP Transfer of real property by mother to children
FAILURE TO DISTRIBUTE INCOME EX- (PLR), 26 in return for self-cancelling promissory note
CISE TAX, §4942 Redemptions of corporate stock to pay death not gift (TCM), 188
“Distributable amount” equals “minimum in- taxes, 146 Transfer of trust assets held for benefit of
vestment return,” foundation need not dis- Reformation of will drafted prior to enactment spouse and children to children in exchange
tribute entire annual amount received from of GSST reformed to allow taking advantage for transfer of same assets back to new trust
charitable income trust (US TC), 9 of GST exemption (NJ SupCt), 192 is transfer made in full and adequate consid-
Split-dollar life insurance plans, 52 eration not gift under §2511 (PLR), 24
FAMILY PARTNERSHIPS State court construction permitting trustee to Valuation restrictions, 181
Buy-sell agreement restricting transfer of inter- deviate from terms of irrevocable trust does Waiver of right to buy stock at discount price
est and giving surviving partners right to buy not cause loss of grandfather protection under buy-sell agreement constitutes gift
at price equal to deceased partner’s capital (PLR), 123 (PLR), 24
LEG
ESTATES, GIFTS AND TRUSTS JOURNAL — 1992 INDEX 5
GIFTS WITHIN THREE YEARS OF DECE- power to distribute income and principal to Cancellation of indebtedness, gain on self-can-
DENT’S DEATH, §2035 herself and heirs not sufficient for incidents celling installment note reportable on dece-
Distribution from revocable trust allowing non- of ownership (PLR), 15 dent’s final income tax return (US TC), 188
settlor trustee to make distribution to non- Retained life estates, see RETAINED LIFE Transfer of real property by mother to children
settlor included in settlor’s gross estate ESTATES in return for self-cancelling promissory note
(TAM), 158 Revocable transfers, see REVOCABLE not gift (TCM), 188
ExcLlEusGiIonS LoAfT gIiOftNs ,m adFeE DtEo RrAeLvo,c abHleR tr2u7s7t7s, see ValTuRatAiNonS,F EseReS ,V AL§U20A3T8 ION INSTALLMENT PAYMENT OF ESTATE
TAX
Life insurance
—Conversion of group policy within three years GSST See EXTENSION OF TIME FOR PAY-
of death to trust established by decedent’s See GENERATION-SKIPPING TRANSFER MENT OF ESTATE TAX
children included in gross estate (TAM), 36 TAX INTEREST
—Option to buy back policy is incident of own-
ership requiring inclusion of proceeds in gross GUARANTEES See also IMPUTED INTEREST
estate under §2042(2), 13 Gifts, guarantee of loan debt without consider- Estate tax credit for tax on prior transfers, in-
—Policy issued on life of decedent who paid ation by father to son is taxable gift complet- terest paid under §6166 to protect surviving
premiums but naming sons as owners and ed when promise becomes binding (PLR), 25 spouse’s joint tenancy property not taken into
beneficiaries not included in estate (CA 5), Marital deduction, mere existence of guarantee account in computing credit (US TC), 10
13 of loan to business owned by guarantor as
INTEREST-FREE LOANS
—Proceeds of policy not included in gross es- encumbrance on marital trust insufficient to
tate if insured never held incidents of owner- cause disallowance of marital deduction, 65 Deduction of imputed interest on interest-free
s1h2i p, IRS recommends acquiescence (AOD), QTIbPasn,k ploraonpse rtnyo t eqnucaulimfbieerd edf or asQ TgIuPa ratnrteeaetsm enfotr lpoaaynms enetv idoern caecdc rubayl porfo miinstseorresyt ntoot ebse rdeeqduuicrte-s
—Reassignment of policy within three years of (PLR), 20 ible (US CtCls), 3
dtaetaet h,( TApoMl)i,cy 1i3n cluded in insured’s gross es- I INTERNAL REVENUE SERVICE
ERISA plan benefits, seizure authority, 113
Revocable trust distributions, HR 2777 propos-
IMPUTED INTEREST
al would exclude from gross estate of dece- INTRA-FAMILY SALES
dent, 14 See also INTEREST-FREE LOANS See also CLOSELY-HELD CORPORA-
Revocable trust distributions made while dece- Gift valuations, safe harbor rates of §483 on TIONS; RELATED PARTY TRANSAC-
dent trustee excludable from gross estate, dis- certain deferred payments irrelevant to valu- TIONS
tributions made after successor trustees given ation of gift under §2512 (CA 8), 25 Applicable Federal Rate, 133
power to distribute to decedents includible
(US TC), 1 INCIDENTS OF OWNERSHIP Below-market interest rate, 131
Split-dollar life insurance plans, 51 See LIFE INSURANCE OLregiigsilnaatli veis super opdoissaclo,u nt1,3 8 131
GRANTOR RETAINED ANNUITY TRUSTS INCOME IN RESPECT OF DECEDENT Safe harbors, 134
No gain or loss is realized by grantor upon Cancellation of installment obligation in will IRAs
transfer of stock from trust to grantor in sat- constitutes transfer of right to receive income See INDIVIDUAL RETIREMENT AR-
isfaction of trust requirement to commute an- in respect of decedent producing no deduc- RANGEMENTS (IRAs)
nuity payments to extend income exceeds an- tion for estate (PLR), 5; 7
nuity (PLR), 36 Charitable bequests funding, 139 J
Death of partner before conditions for real es-
GRANTOR RETAINED INCOME TRUSTS tate sale fulfilled, gain not IRD (PLR), 7 JOINT AND SURVIVOR ANNUITIES
Valuation of closely-held business’s stock, actu- Disclaimer of benefits from qualified retire- Marital deduction for charitable contributions,
arial tabled under Regs. §25.2512-5(f) apply ment plan neither prohibited assignment or 87
despite return lower than assumed rate (US alienation nor assignment of income under
TC), 25 ERISA (GCM), 7 JOINTLY-OWNED PROPERTY
Gain on self-cancelling installment note not See also TENANCY BY THE ENTIRETY
GRANTOR TRUSTS IRD (US TC), 188
Contribution test applies to jointly-owned prop-
Assumption of mortgage by charitable income IRAs, lump-sum distribution to non-spouse ben- erty purchased before i977 by decedent dy-
annuity trust does not create grantor trust eficiary, value less nondeductible contribu- ing after 1981 (CA 6), 191
entitling grantor to income tax deduction for tions is income in respect of decedent (RR), Extension of time for payment of estate tax,
present value of charitable annuity (PLR), 7 156 interest paid under §6166 not taken into ac-
Irrevocable trust with power of trustee to add count in computing estate ‘€ credit for tax
beneficiary treated as grantor trust under INCOME TAX on prior transfers (US TC),1
§674(a) allowed to hold S corporation stock Buy-sell agreements, consequences of, 103 Marital deduction for charitable Fatetitiics
(PLR), 36 Private annuities, 60 85
Replacement securities purchased from ESOP Split-dollar life insurance plans, 45
by trust created by company owner treated as K
purchase by owner, §1042 non-recognition INDIVIDUAL RETIREMENT ARRANGE-
rules applicable to qualified securities sold to MENTS (IRAs) KIDDIE TAX
ESOP (PLR), 6 Estate tax exemption is available only if dece- Gifts, income tax consequences, 29
dent qualifies for exemption under 1984
GROSS ESTATE grandfather provisions of TRA of 1984 (RR), L
Common disasters, decedent’s property includ- 89
ed in gross estate of spouse surviving for 38 Lump-sum distribution to non-spouse benefi- LAPSING RIGHTS
hours where decedent’s will adopted rule dif- ciary, value less nondeductible contributions Estate freezes, 182
ferent from state law (CA 9), 12 is income in respect of decedent (RR), 156
Farm property, see SPECIAL USE REAL Marital deduction LEASEBACKS
PROPERTY VALUATION ELECTION, —Election required by trustee to pay IRA in- See SALES AND LEASEBACKS
§2032A come to surviving spouse annually, qualifica-
Fractional shares, discount not allowed where tion cannot be contingent on post-election ac- LEGISLATION, FEDERAL
property included under different provision tions of trustee (TAM), 122 HR
(TAM), 11 —1555, Technical Corrections Act of 1991,
Gifts made pursuant to power of attorney not INFORMATION RETURNS technical corrections proposed for estate
expressly authorizing making of gifts includi- Estate need not issue Form 1099 to law firm freeze special valuation rules, 28
ble in gross estate (TAM), 188 /executor where payments to firm for ser- —2777, Tax Simplification Act of 1991
Gifts within three years of death, see GIFTS vices to estate not payments po in ——Exclusion from gross estate of gifts made
WITHIN THREE YEARS OF DECE- firm’s trade or business (PLR),9 to revocable trust within three years of
DENT’S DEATH, §2035 death, 14
Housing project notes subject to estate tax (CA INSTALLMENT OBLIGATIONS ——Proposed QTIP and QDT changes, 18
Cancellation of debt in will constitutes transfer ——Special use real property valuation,
Life insurance, see LIFE INSURANCE of right to receive income in respect of dece- §2032A, proposal to ease situations in
Non-marital trust of insurance policy on surviv- dent producing no deduction for estate which defective election can be modified,
ing spouse who was trustee having limited (PLR), 5; 7 11
LEV
6 TAX MANAGEMENT
LEVIES M N
See TAX LEVIES
MARITAL DEDUCTION (ESTATE TAX) NET OPERATING LOSSES
LIENS See also CHARITABLE REMAINDER See also OWNERSHIP CHANGES, §382
See TAX LIENS TRUSTS; QUALIFIED TERMINABLE LOSS LIMITATION
SLeIeF E alEsSo TAQTUEASL IFIED TERMINABLE IN- AssIetNsT ErReEceSiTve d PfRrOomP EpRrTopYe rty( QTsIuPrr)e ndered by NON-RECOGNITION TRANSACTIONS
TEREST PROPERTY sauvorivdi vilnigt igastpioouns ed o ton oto tqhuearl ifbye nefofri cidaerdiuecst iotno Truasntd chroeladt erd epblya cecmoemnpta nsyt ocokw nfeorr sttoo ckp ursoclhda steo
Joint and mutual will leaving personal property (CA 10), 19 ESOP on his behalf is grantor trust, §1042
to survivor, with life estate in real property Charitable contributions, estate planning con- non-recognition rules applicable (PLR), 6
and at death all property to heirs created life siderations, 84
estate in real and personal property not quali- Estate tax may not be disproportionately allo- NON-RESIDENT ALIENS
fied for marital deduction (CA 7), 19 cated between probate assets and non-pro- Lending foreign situs art work to U.S. museum
LIFE INSURANCE bate assets held in tenancy by the entirety does not subject property to U.S. estate tax
See also SPLIT-DOLLAR LIFE INSUR- under Va. law (CA 4), 18 (PLR), 21
ANCE PLANS Family settlement agreement between surviving Unified estate tax credit available for U.S. es-
spouse and minor children not to probate will tates of non-resident aliens under certain
Buy-sell agreements, funding, 100 is disclaimer and subsequent disclaimers op- treaties (RR), 21
Change of named insured in company owned
erate to direct property back to surviving
key employee policy held taxable exchange of spouse to qualify for marital deduction O
one policy for another (RR), 7 (TAM), 158
Chasruietda bploel iccyo,n tIrRiSb utrieovno kedse dupcritoiro nr ulfionr g ndeewnlyyi nigs - Guatorra natse ee nocfu mlboarna ntco eb usoinn esmsa riotwanle dt rubsyt giunasrufafni-- OEFRIFSEAR S peInNs ioCnO MplPanR ObMenIefSitEs, 115
income, estate, and gift tax deduction for cient to cause disallowance of marital deduc-
New York policies (PLR), 38 tion, 65 OIL AND GAS
Charitable contribution of life insurance policy Identification of property, Form 706, Schedule
to public charity not entitled to deduction for M only requires identification of interests A—lRtiesrkna tree dvuacltuiaotni onf acdtaotr e,n ot§ 2s0i3g2n ificant for valu-
l(aPcLkR ),of 4i nsurable interest under state law passing to surviving spouse, not individual as- ation during first 6 months after death (US
sets (PLR), 20
G—icfCttohsnr evweei rtshyiienoa rns t horofef e g dreyoaeuatprh s itonofs utdrreaucnsetc dee enstpt’oaslbi lcidyse hawetidht hibny IRAsnsoutr, v ibeveli enccgt oinostnpi onubgsyee n ttr aunsontneu ea ploltsyot, - pealqyeu catlIiiRofAni caaitcnitocinoo mnesc anot-of —Vam(ilCnuAee d’ 10o)afs, e1tx6ht0er ya cteexdis teodil aatn d thgea sd attoe boef ddeetaetrh-
decedent’s children included in gross estate trustee (TAM), 122
(TAM), 36
—Opertsihoipn rteoq ubiruiyn gb aicnkc lupsoiloinc y ofis pirnocciedeednst ionf gorwons-s Joiatnont ds aunartdv idvmeouart,t uha wlai ltlhw iplrlloi fplee eraetvsyit nagtt eo pheiernis rosrn eaacllr eapptrreoodpp eerrlttiyyfe OInRtIraG-IfNamAiLly IsaSlSesU,E 13D1I SCOUNT
estate under §2042(2), 13 estate in real and personal property not quali- OVERPAYMENT OF TAX
—Poplriecmyi umiss suebdu t onn amliifne g of sodnesc edaes nto wnwehros paanidd Joifnite d anfdor sduerdvuicvtoiro na nn(uCitAi es7,) , 8179 Refund of overpayment of estate tax otherwise
ac not included in gross estate (CA Marital share of estate must be reduced where payable in installments must be applied
5), 13 residuary assets insufficient to pay estate tax against unpaid installments (CA 9), 22
—Proceeds of policy not included in gross es- (CA 7), 19
tate if insured never held incidents of owner- Personal residence, retained life estate with OWNERSHIP CHANGES, §382 LOSS LIMI-
ship, IRS recommends acquiescence (AOD), charitable remainder trust, 86 TATION
1 Pooled income funds, 86 Gift considerations, 33
—Reassignment of policy within three years of Pre-ERTA marital deduction clause equalizing
death included in insured’s gross estate taxable estates but not referring to “maxi- P
(TAM), 13 mum marital deduction” limits deduction to
Non-marital trust of insurance policy on surviv- 50 percent pre-ERTA standard (CA 6), 18 PARTNERSHIP INTEREST SALES OR EX-
ing spouse who was trustee having limited CHANGES
power to distribute income and principal to MARITAL DEDUCTION (GIFT TAX) Annual gift tax exclusion, gifts of partnership
herself and heirs not sufficient for incidents See also Charitable remainder trusts; QUALI- interest, under control of donor’s general
of ownership (PLR), 15 FIED TERMINABLE INTEREST PROP- partnership interest, are present interests en-
LIFE INSURANCE TRUSTS ERTY (QTIP) Buyt-isteleldl taog reexeclmuesnito n re(sPtLriRc)t,i ng2 4t ransfer of inter-
Liquidation-reformation of trust with no sub- Estate planning, 84 est and giving surviving partners right to buy
satbalnet iaelv encth a(nPgLe R)i,n e8q uitable interests not tax- MARITAL DEDUCTION TRUSTS aatc copurincte ediqdu aln ott o edsetcaeblaissehd epsatrattnee r’tsa x cavpailtuael
Accumulation provision subject to “needs, best (TAM), 11
LIQUIDATING TRUSTS interests and welfare” clause does not dis-
Estate tax lien against deceased partner does
Status as trust, PLR request checklist (RR), 9 qualify deduction (CA 9), 124 not follow property redeemed by ee
IRA payable to trust disallowed deduction
LIQUIDATIONS, CORPORATE (TAM), 122 but follows partnership interest (CA 6), 21
Part gift and part sale transactions, 33
Liquidation value of corporation, no discount Valuation, trust funded by 49 percent block of
allowed for potential capital gains tax on liq- stock in closely-held corporation subject to PARTNERSHIPS
uidation value of corporation where no liqui- minority discount valuation (TAM), 11 Lapsing voting rights and liquidation rights,
dation contemplated (TAM), 63
proposed estate freeze rules issued, 28
S corporations, sale of sole asset by sole share- MARITAL TRUSTS
holder’s estate with distribution of cash to Testamentary trust may be divided into two PASSIVE LOSSES
ebsatsaitse tor eessutlattse i(n PLpaRs)s, t1h2r3o ugh of stepped-up tpioornt ioinss ,m adfoer o(nPeL Ro)f, wh2i7c h reverse QTIP elec- Gifts, income tax considerations, 33
LOANS PENALTIES
Guabrya nftaeteh er oft ol oasonn deisb t tawxiatbhloeu t gifcto nsciodmeprlaettieodn MChEaDriItCabAlIeD estate tax deduction denied for be- SeeC OaMlsEo FEAXICILSUER E TATXO, §D4I9S42T RIBUTE IN-
when promise becomes binding (PLR), 25 qtruuesstt fmoard er eltioe f diosfa blheadn dicapeprspone dt o pbeer shoenlsd tion PENSION PLANS
Marital deduction, mere existence of guarantee
of loan to business owned by guarantor as avoid affecting Medicaid benefits never in- See ERISA (EMPLOYEE RETIREMENT
encumbrance on marital trust insufficient to tended for charitable purposes (TAM), 88 INCOME SECURITY ACT)
cause disallowance of marital deduction, 65
MINORITY SHAREHOLDERS PERSONAL RESIDENCE
LOSSES Transfers to obtain minority discount, 59 see PRINCIPAL RESIDENCE
Gifts, basis for calculating, 32
_— 382 loss limitations, gift considerations, MORTGAGES PERSONAL SERVICE CORPORATIONS
See ENCUMBERED PROPERTY Gift of stock, 35
QUA
7
ESTATES, GIFTS AND TRUSTS JOURNAL — 1992 INDEX
POOLED INCOME FUNDS sional Conduct,” Real Probate and Trust QTIP
Depreciation reserve must use generally accept- Journal, 127 See QUALIFIED TERMINABLE INTER-
ed accounting principles (RR), 5 “Effect of a Trust on the Eligibility or Liability EST PROPERTY (QTIP)
Estate planning, 58 of the Trust Beneficiary for Public Assist- QTIP TRUSTS
Marital deduction, 86 ance,” Real Property Probate and Trust
Journal, 127 See QUALIFIED TERMINABLE INTER-
POWER OF ATTORNEY “Estate and Financial Planning for the Aging EST PROPERTY (QTIP)
Attorney-in-fact has no implied authority to or Incapacitated Client - 1991,” Practising
make gifts, gifts includible in gross estate Law Institute, 94 QUALIFIED CONSERVATION CONTRIBU-
(CA 4), 14 “Estate Planning,” Practising Law Institute, 94 TIONS
Gifts made pursuant to power of attorney not “Estate Planning to Avoid Complications of Re- Scenic easements, donation to charitable orga-
expressly authorizing making of gifts includi- marriage,” Estate Planning, 194 nization partly motivated by charity’s prom-
ble in gross estate (TAM), 188 “Estate Planning Using Powers of Attorney,” ise of tax deduction had donative intent de-
IRS Publication 947 explaining use of Forms Trusts & Estates, 163 spite desire to obtain tax advantages (US
2848 and 8821 available (Ann), 64 “Estate Tax Audit: How to Prepare and Suc- CtCls), 3
ceed,” Estate Planning, 67
POWERS OF APPOINTMENT QUALIFIED DOMESTIC TRUSTS
“Highlights of the Chapter 14 Final Regula-
Non-marital trust of insurance policy on surviv- tions,” Trusts & Estates, 94 Form 706-QDT issued (Ann), 20
ing spouse who was trustee having limited “Introduction to Survivorship Insurance,” Pro- Legislative proposals, see LEGISLATION,
power to distribute income and principal to bate & Property, 40 FEDERAL, HR 2777
herself and heirs not sufficient for incidents “IRS Action Makes it Easier to Keep Proceeds
of ownership (PLR), 15 Out of an Insured’s Gross Estate,” Journal of QUALIFIED EMPLOYEE BENEFIT PLANS
Taxation, 40 See DISTRIBUTIONS, PENSION & PROF-
PRINCIPAL RESIDENCE IT-SHARING PLANS; ERISA (EMPLOY-
“IRS’ Prelitigation File May Be Subject to
Marital deduction, 86 Taxpayer Discovery,” Journal of Taxation, EE RETIREMENT INCOME SECURITY
QTIP trust may hold property in which survivor 67 ACT)
hofa s prloifpee retsyt at(eP LoRr ),ri gh2t0 to income from rental “Life Estates and QTIP, A Problem,” Probate QUALIFIED SUBCHAPTER S TRUSTS
& Property, 194
Salaen-dl eassoen backpr ovairdirnagn gefomre ncta ncbeelltawteieonn doefc emdoerntt- “LiTfreu stIsn s&ur aEnsctea:t es,A 1F2i7d uciary Time Bomb,” Chaqruiatlaibfyl e asr eQmSaiSnTd er( RRt)ru,s t 1u5n6d er §664 can not
og§fa2 g0e3f 6u(lolan ) vda(elUcuSeed enTtCo’)fs , dhe1oa2ut5sh e reisnu ltess tiant ei ncluunsdieorn “Lisftei tuItne suorna nFceed eraanld ST axCaotripoonr,a ti1o2n8s ,” NYC In- Onefti rmoiemn coolfam setd eadbtiehsn terftiiobc uietasirtoyan,t e ddaoitrs et rsiupbcruciteoisros no tro o fdd eoiaentsch o nmoetto
“Need for Increased Life Insurance Due Dili-
PRIVATE ANNUITIES “Ngeewn ce,Is”s ueTsr usRtasi s&ed Esitna ttehse, R1e2l7a ted Party In- Truvsito laatger ereumlee nt( RRa)u,t ho1r9i0z ing trustee to accumu-
Estate planning, 60 late trust income in the event that trust does
stallment Sales,” Journal of Taxation of Indi- not hold any shares of an S corporation does
PRIVATE FOUNDATIONS viduals, 67
Amount required to be distributed from income “New Rules Create Problems for Individual Es- not preclude QSST status (RR), 89
received from charitable income trust is de- timated Tax,” Journal of Taxation, 67 QUALIFIED TERMINABLE INTEREST
fined in terms of minimum investment return “New Tax Court Case Expands Opportunities PROPERTY (QTIP)
to avoid §4942 penalty (US TC), 9 for Self-Cancelling Installment Notes,” Jour- Charitable remainder trusts, 84
Disclaimant’s directorship relationship with nal of Taxation, 128 Contingency providing for alternative distribu-
“Nonprofit Litigation, A Practical Guide with
foundation to which disclaimed property Forms and Checklists,” John Wiley & Sons tion in event of failure to make QTIP election
passed not bar to valid disclaimer where dis- disqualifies property from QTIP election
Inc., 94
tribution of income and principal rested with (PLR), 157
“Optimal QTIP Election and the Prior Transfer
independent directors (PLR), 26 Election deemed made if property listed on
Credit,” Probate and Property, 127 Form 706, Schedule M, 66
PRIVATE LETTER RULINGS “Owning Assets in Trust Results in Tax and
Elections, curing defective elections, Final
Checklist for points to be covered in transfer Nontax Benefits,” Estate Planning, 194 Regs., 65
tax rulings (RR), 22 “Planning for the Vanishing Suspended PALs Generation-skipping transfers
Liquidating trusts checklist (RR), 9 otaft eDs,e ce94d ents and Executors,” Trusts & Es- —Deceased parent rule, 151
PROBATE “Practice Before the IRS and Power of Attor- —Interrelationship with $303, 146
Estate planning to avoid, 59 “Prneoyp,o”s eIdR S VPaulbu.a tNioo.n 94R7e, gu6l4a tions Provide Ideqnutiirfeisc atiidoenn tioffi cpartoipoenr tyo,f Sicnhteerdeusltes Mpa sosnilnyg rte-o
PROMISSORY NOTES Harsh Results under Adjustment and Lapse surviving spouse, not individual assets (PLR),
Gifts, 31 Rules,” Journal of Taxation, 40 Int2e0r vivos QTIP not included in gross estate of
“Protect Retirement Assets - Implement a
PROPERTY IN WHICH DECEDENT HAD Qualified Plan,” Probate & Property, 194 grantor under §§2036 or 2038 if property in-
AN INTEREST, §2033 “Reconciling Family Law with Tax Policy: Un- cluded in spouse’s gross estate (PLR), 38
See GROSS ESTATE tangling the Tax Treatment of Parental Legislative changes, see LEGISLATION,
FEDERAL, HR 2777
Trusts,” Tax Law Review, 40
PUBLICATIONS “Significant Recent Developments in Estate Loan guarantees, mere existence of guarantee
“AARP - Asset Accumulation, Retention and Planning (Parts 1 through 4),” Tax Adviser, of loan to business owned by guarantor as
Protection; Prelude to Transmission,” TAX- 67 encumbrance on marital trust insufficient to
ES, 67 “Tax Planning for Closely Held Corporations cause disallowance of marital deduction, 65
“Applying the GSTT to Non-Resident Aliens,” Under the New Estate Freeze Rules,” Re- Marital trust includible in gross estate under
Probate & Property, 67 view of Taxation of Individuals, 40 §2044 (US TC), 11
“Buy-Sell Agreements, Transfers Restrictions “The Elder Law Institute Representing the Eld- Marital trust trusteed by surviving spouse with
and Section 2703: Have Buy-Sells Gone Bye- erly Client of Modest Means - 1991,” Practis- power to accumulate income not qualified for
Bye?,” NYC Institute on Federal Taxation, ing Law Institute, 94 marital deduction (US TC), 20
128 ‘Truth About Charitable Remainder Trusts,” Principal residence, QTIP trust may hold prop-
“Charitable Remainder and Wealth Replace- Tax Lawyer, 127 erty in which survivor has life estate or right
ment Trusts: Too Good to be True?,” Journal “When Should Equitable Adjustments Be to income from rental of property (PLR), 20
of Accountancy, 163 Made?,” Estate Planning, 68 Property acquired as result of election to claim
“Charity, Advocacy, and the Law,” John Wiley statutory forced heir share and transferred to
& Sons Inc., 94 PUT OPTIONS life estate trust not qualified for deduction
“Coping with Section 2056A(a) of the Internal See PUTS AND CALLS (PLR), 20
Revenue Code: Making the Best of a Bad Property encumbered as guarantees for bank
Law,” NYC Institute on Federal Taxation, PUTS AND CALLS loans not qualified for QTIP treatment
128 Buy-sell agreements, 112 (PLR), 20
“Dangers of Giving Debt-Encumbered Property QTIP conditional on executor’s election not en-
to Charity,” J. of Estates and Trusts, 40 Q titled to deduction for interest in which elec-
‘Developments Regarding the Professional Re- tion made (US TC), 19
sponsibility of the Estate Administration QSSTs Spendthrift trust clause does not preclude ter-
Lawyer: the Effect of the Model of Profes- See QUALIFIED SUBCHAPTER S TRUSTS mination of interest under state law revoking
RAB
8 TAX MANAGEMENT
QUALIFIED TERMINABLE INTER- REFUNDS Attorney-in-fact has not implied authority to
EST—Contd. Overpayment of estate otherwise payable in in- make gifts, gifts revocable transfers includ-
Spendthrift trust clause—Contd. stallments must be applied against unpaid in- able in gross estate (CA 4), 14
any disposition or appointment of property stallments (CA 9), 22 Gifts made from self-trusteed revocable trust
not included in gross estate, gifts made by
made by trust upon divorce (TAM), 26 REGULATIONS successor trustee includible (CA 4), 14
Testamentary marital trust may be divided into Estate freezes
two trusts, for one of which reserve QTIP S
—Adjustments to mitigate double taxation,
election is made (PLR), 27
Prop. Regs., 78
Trust expenses of beneficiary deductible from —Prop. Regs., 27; 28 S CORPORATIONS
beneficiary’s estate only to extent expenses Extension of time to make elections, Final See also QUALIFIED SUBCHAPTER S
attributable to beneficiary’s death (TAM), Regs., 22 TRUSTS
16
QTIP elections, curing defective elections, Final Buy-sell agreements, 107
Trust may be divided between pecuniary re- Regs., 65 Executor may consent to election on behalf of
verse QTIP and residuary ordinary QTIP, S corporations, single class of stock require- deceased shareholder (RR), 189
with reverse QTIP being funded with assets ment, Prop. Regs., 8 Irrevocable trust with power of trustee to add
based on value on distribution date (PLR), beneficiary treated as grantor trust allowed
26 RELATED PARTY TRANSACTIONS to hold S corporation stock (PLR), 36
See also INTRA-FAMILY SALES Liquidations, sale of sole asset by sole share-
R Buy-sell agreements, 106 holder’s estate with distribution of cash to
estate results in pass through of stepped-up
RABBI TRUSTS RELIGIOUS ORGANIZATIONS basis to estate (PLR), 123
Model form issued by IRS (RP), 159 Administrative inconsistencies in treatment of Single class of stock requirement, Prop. Regs.,
fees paid for participation in religious ser-
vices of Church of Scientology states cause of Termination of status resulting from gift of
RECAPTURE
action for refund (CA 11), 3 stock, 34
Special use real property valuation, failure to
file recapture agreement with §2032A elec- REMAINDER INTERESTS SALE OF EXCHANGE OF PRINCIPAL RES-
tion precludes use of special valuation (CA See also CHARITABLE REMAINDER IDENCE
’ TRUSTS See PRINCIPAL RESIDENCE
Disclaimers, reasonable time requirement be-
RECIPROCAL TRUST DOCTRINE, 71 gins to run upon creation of remainder inter- SALES AND LEASEBACKS
est, not after vesting (CA 8), 25 Principal residence, arrangement between dece-
RECOGNITION OF GAIN OR LOSS dent and family members providing for can-
Extension of time to make TAMRA 1988 elec- RENTALS cellation of mortgage on decedent’s death re-
tion to recognize income from short taxable Extension of time for payment of estate tax, sults in inclusion of full value of house in
year of trust, due to TRA 1986 taxable year decedent’s participation in day-to-day activi- estate under §2036(a) (US TC), 125
wrheqeurier egmoeondt , caouvseer sfhoouwrn ye(aPrL R)p,er i5o d granted stiteist utoef haicst irveen ttarla dper oopre rbtuiseisn essos heilgihg ibalse t§o 6c1o6n6- SEIZURE OF PROPERTY
Insurance, change of named insured in com- election (PLR), 23 ERISA pension plan benefits, 113 et. seq.
pany owned key employee policy held taxable REPORTING REQUIREMENTS SETTLEMENTS
exchange of one policy for another (RR), 7 Form 1099, estate need not issue form for pay- Marital estate tax deduction denied for assets
Liquidation-reformation of life insurance trust ments made to law firm for services as execu- received by surviving spouse from property
with no substantial change in equitable inter- tor (PLR), 9 surrendered to other beneficiaries to avoid
ests not taxable event (PLR), 8 Qualified domestic trusts, Form 706-QDT is- litigation (CA 10), 19
No gain or loss is realized by grantor upon sued (Ann), 20
transfer of stock from grantor retained annui- SHAM TRANSACTIONS
ty trust to grantor in satisfaction of trust re- RESTRICTED PROPERTY, §83 Borrowed funds, at 3 percent interest and
quirement to commute annuity payments to Buy-sell agreements, 105 pledged to certain public charity, contributed
extend income exceeds annuity (PLR), 36 by taxpayer to that charity and loaned back
RETAINED INTERESTS to lending corporation by charity, not deduct-
REDEMPTIONS OF CORPORATE STOCK Valuation, 179 ible (CA 9), 4
TO PAY DEATH TAXES
Generation-skipping transfer tax planning, 146 RETAINED LIFE ESTATES SIMULTANEOUS DEATH
Post-death estate planning, 61 Charitable remainder trust of personal resi- See also COMMON DISASTER
dence, 86 Usufruct, simultaneous death precludes estate
Storcekd edmipvtiidoenn d ofo ne stnaotnev’so tinnogn vosttioncgk fsotolclko weqdu albi-y Prowpietrhtoyu t giofbtleidg attio ons poour sea grase emteennatn t toi ng icvoe mdmeocne- tax credit for tax on prior transfer (CA 5), 10
fies as §303 sale or exchange (PLR), 5 dent beneficial interest not retained life es- SPECIAL USE REAL PROPERTY VALUA-
tate where pre-deceased spouse left decedent TION ELECTION, §2032A
REFORMATION OF INSTRUMENT life estate (TAM), 15 Defective election modification, HR 2777 provi-
Failure to request within appropriate time re- Qualified terminable interest property, inter sion would ease situations, 11
= in denial of estate tax deduction (CA 6), vivos QTIP not included in gross estate of Election valid despite lack of trust beneficiaries’
1 grantor under §§2036 or 2038 if property in- signatures on notice of election or recapture
Generation-skipping transfer tax, state court cluded in spouse’s gross estate (PLR), 38 agreement (US TC), 12
construction permiiiing trustee to deviate Spousal trust with simultaneous execution by Failure to file recapture agreement with elec-
from terms of irrevocable trust due to circum- spouse of codicil creating revocable trust for tion precludes use of special valuation (CA
stances not known or anticipated by settlor benefit of grantor constitutes implied agree- 2), 12
does not cause loss of grandfather protection ment sufficient to include trust funds in gross Post-death estate planning, 61
(PLR), 123 estate (PLR), 15
Liquidation-reformation of life insurance trust SPECIAL VALUATION RULES, §§2701-
with no substantial change in equitable inter- REVENUE RECONCILIATION ACT OF 2704
ests not taxable event (PLR), 8 1990 See ESTATE FREEZES
See ESTATE FREEZES
Will drafted prior to enactment of generation- SPENDTHRIFT CLAUSES
stakgiep pionfg GtSrTan sfeexre mtpatxi orne fo(rNmJe d SutpoC tt)ak,e 1a9d2v an- REVOCABLE INTER VIVOS TRUSTS QTIPs, state law revoking any disposition or
See also GRANTOR TRUSTS appointment of property made by trust upon
REFUND SUITS Gifts made from self-trusteed revocable trust divorce not protected by spendthrift clause
not included in gross estate, gifts made by (TAM), 26
Administrative inconsistencies in treatment of successor trustee includible (CA 4), 14
fees paid for participation in religious ser- SPLIT-DOLLAR LIFE INSURANCE PLANS,
vices of Church of Scientology states cause of REVOCABLE TRANSFERS, §2038 43
action for refund (CA 11), 3 Ability of grantor to terminate beneficial land Annual gift tax exclusion, 50
Estate tax, §6166 extension of time for pay- trust and revest funds with consent of some of Equity split-dollar arrangements, 46
ment, suit may not be maintained unless en- beneficial owners sufficient to cause inclusion Estate tax consequences, 51
tire tax due is paid (CA FC), 21 of entire trust in gross estate (DC Ill), 14 Generation-skipping transfer tax, 52
VAL
ESTATES, GIFTS AND TRUSTS JOURNAL — 1992 INDEX 9
SPLIT-DOLLAR LIFE INSUR- STUB INCOME Estimated tax, new method to calculate quar-
ANCE—Contd. Qualified subchapter S trusts, distribution of terly liability enacted, 9
Gift tax consequences, 49 income from last distribution date prior to
Gifts within three years of decedent’s death, 51 death to time of death to estate or successor U
Incidents of ownership, 51 does not violate one income beneficiary rule
(RR), 190
Income tax consequences, 45
UNIFIED ESTATE AND GIFT TAX CREDIT
Reverse split-dollar arrangements, 48
Rollout split-dollar arrangements, 47 SUPPORT OBLIGATION Non-resident aliens, credit available for U.S.
Third-party split-dollar arrangements, 48 See CHILD SUPPORT OBLIGATION estates of non-resident aliens under certain
Types, 44 treaties (RR), 21
SURVIVORSHIP ANNUITIES
STATE AND LOCAL LAW See JOINT AND SURVIVOR ANNUITIES USUFRUCT
Disclaimer of survivorship interest in tenancy Simultaneous death precludes estate tax credit
by the entirety under Ark. law requires dis- T for tax on prior transfer (CA 5), 10
claimer to be made within nine months of
transfer of real property to decedent and TAX CREDITS Vv
spouse, not on death of decedent (TAM), 88 See ESTATE TAX CREDIT FOR TAX ON
Federal estate tax may not be disproportionate- PRIOR TRANSFERS
ly allocated between probate assets and non- VALUATION
probate assets held in tenancy by the entirety TAX LEVIES See also ALTERNATE VALUATION
under Va. law (CA 4), 18 ERISA retirement plan benefits, 113 DATE; ESTATE FREEZES; SPECIAL
Joint and mutual will leaving personal property USE REAL PROPERTY VALUATION
too survivor, with life estate in real property TAX LIENS ELECTION, §2032A
and at death all property to heirs, created life
Estate tax lien against deceased partner does Applicable Federal Rate, use, 133
estate in all property under Ill. law not quali-
fied for marital deduction (CA 7), 19 not follow property redeemed by partnership Art works, “blockage issue,” 167
but follows partnership interest (CA 6), 21
New York law excluding public charity from Estate tax lien takes priority over transfer for Below-market interest rates, 131
insurable interest in life of decedent results in services taking effect at decedent’s death —Safe harbors, 134
more-than-remote possibility charity will not (DC Kan), 22
receive proceeds of life insurance policy, fed- Buy-sell agreements, 102
eral charitable deduction denied (PLR), 4 TAX REFORM ACT OF 1984 Common stock’s estate tax value diminished by
Spendthrift clause does not preclude termina- Charitable contributions qualified appraisal rights of preferred shareholders, IRS an-
tion of QTIP trust under Tenn. law revoking rules, 118 nounces nonacquiescence (AOD), 11
any disposition or appointment of property
Environmental cleanup costs, discount for con-
made by trust upon divorce (TAM), 26 TAX TREATIES taminated land denied (US TCM), 193
STATUTE OF LIMITATIONS Unified estate and gift tax credit available for Family partnership agreement restricting trans-
Gift tax assessment, IRS may make “line 4” USS. estates of non-resident aliens under cer- fer of interest and giving surviving partners
adjustment to estate tax computation after tain treaties (RR), 21 right to buy at price equal to deceased part-
§6501 period has expired (US TCM), 9 TECHNICAL AND MISCELLANEOUS REV- ner’s capital account did not establish estate
STEPGRANDPARENTS ENUE ACT OF 1988 tax value (TAM), 11
Estate planning, 173 Extension of time to make TAMRA 1988 elec- Fractional shares, discount not allowed where
tion to recognize income from short taxable property included in gross estate under differ-
STEPPED-UP BASIS AT DEATH year of trust due to TRA 1986 taxable year ent provision (TAM), 11
Gift considerations, 31 requirement, over four year period granted Imputed interest, safe harbor rates of §483 on
Jointly-owned property, contribution test ap- where good cause shown (PLR), 5 certain deferred payments irrelevant to valu-
plies to property purchased before 1977 by
decedent dying after 1981 (CA 6), 191 TENANCY BY THE ENTIRETY ation of gift under §2512 (CA 8), 25
Property in unfunded marital power of appoint- Disclaimer of survivorship interest under Ark. Interest income from GRITS, actuarial tables
ment trust receives basis increase at death of law required disclaimer to be made within under Regs. 25.2512-5(f) apply even when
surviving spouse (DC Conn), 8 nine months of transfer of real property to actual rate of return is less than assumed rate
S corporations, sale of sole asset by sole share- decedent and spouse, not on death of dece- (US TC), 25
holder’s estate with distribution of cash to dent (TAM), 88 Intra-family transfers, 131
estate in complete liquidation under §331(a) Estate tax may not be disproportionately allo-
results in pass through of stepped-up basis to cated between probate assets and non-pro- Liquidation value of corporation, no discount
estate (PLR), 123 bate assets held in tenancy by the entirety allowed for potential capital gains tax on liq-
Stock in foreign personal holding company used under Va. law (CA 4), 18 uidation value of corporation where no liqui-
to fund trust for child not entitled to basis dation contemplated (TAM), 63
TRADE OR BUSINESS
adjustment (PLR), 8 Split-dollar life insurance plans, 50
Real estate rentals, decedent’s participation in
STOCK day-to-day activities so high as to constitute
VALUATION OF CLOSELY-HELD CORPO-
See also REDEMPTIONS OF CORPORATE active trade or business eligible for §6166
STOCK TO PAY DEATH TAXES; VALU- election (PLR), 23 RATION STOCK
ATION OF CLOSELY-HELD CORPORA- Actuarial tables under Regs. §25.2512-5(f) ap-
TION STOCK TRUSTEES ply to stock in grantor retained income trusts
Valuation, common stock’s estate tax value di- Disclaimers, trustee has no inherent power to despite return lower than table’s assumed
minished by rights of preferred shareholders, disclaim power to invade trust corpus for rate (US TC), 25
IRS announces nonacquiescence (AOD), 11 spouse’s benefit where will did not authorize Buy-sell agreements, 102
disclaimer (RR), 26
STOLEN PROPERTY Minority discount applied to 49 percent block
Exclusive possession and enjoyment of stolen TRUSTS of stock used to fund marital trust where 51
art objects economic equivalent of ownership Appreciated property sales, 32 percent block of stock used to fund second
requiring inclusion of full value in estate Charitable income tax deduction residuary trust with identical trustees
(TAM), 63 —lIncome in respect of decedent, 140 (TAM), 11
TAX MANAGEMENT
TABLE OF AUTHORS
Acker, Alan S., “Death Bed Tax Planning,” 55 Manning, Elliott, “Intrafamily Sales & OID Smith, Leslie K., “Potential Adverse Income
Bergner, Jane C., “IRS Authority to Seize Safe Harbors: Transfer Tax Anomalies,” 131 Tax Consequences of Gifts,” 29
Qualified Pension Plan Benefits,” 113 McCoy, Jerry J., “Charitable Contributions:
y, Lawrence, “The Transfer Tax Conse- The Qualified Appraisal Rules,” 118 Soled, Jay A., “Rev. Rul. 92-26: An Inspiration
quences of Split-Dollar Arrangements,” 43 Rebane, Kirk A., “Living with Chapter 14: An From Ponce de Leon,” 151
BudSienc,t ioBne ve3r0l3y RRe.d, e“mpGtSiTo nsP,ro”v is1i4o6n s May Limit Appraiser’s View,” 178 Stoneman, Christopher, “Buy-Sell Agreements:
DiJulio, Joseph A., “Funding Charitable Be- Rosenfeld, Jeffrey P., “Stepgrandparents: New Accomplishing Planning Objectives with Op-
quests With IRD Items,” 139 Clients, New Concerns,” 173 timal Tax Consequences,” 99
Hesch, Jerome M., “Intrafamily Sales & OID Schaengold, David, “Artist’s Artworks Valua-
Safe Harbors: Transfer Tax Anomalies,” 131 tion: Is ‘Blockage* the Issue? The Estate of Wolf, Dena L., “Rev. Rul. 92-26: An Inspira-
Katzenstein, Lawrence P., “Selected Marital Georgia O’Keeffe and an Alternative Ap- tion From Ponce de Leon,” 151
Deduction Issues in Charitable Giving,” 84 proach,” 167
King, Hamlin C., “Treasury Tries Again: New Slade, Georgiana J., “The Evolution of the Re- Zaritsky, Howard M., “The Year in Review:
Proposed ‘Adjustments to Mitigate Double ciprocal Trust Doctrine Since Grace and Its An Estate Planner’s Perspective of Tax De-
Taxation’ in Estate Freezes,” 78 Application in Current Estate Planning,” 71 velopments,” 3
TABLE OF CASES
Acord, Estate of v. Comr. (CA 9), 12 Flanders v. U.S. (DC NCalif), 162 McAlpine, Estate of v. Comr. (US TC), 12
Adolphson v. U.S. (DC Ill), 14 Frane, Estate of v. Comr. (US TC), 188 McLennan v. U.S. (US ClsCt), 3
Allen v. Comr. (CA 9), 4 Frazee v. Comr. (US TC), 136 Metz v. U.S. (DC Kan), 22; (CA 10), 22
Ann Jackson Family Foundation v. Comr. (US Freund v. Comr. (CA 2), 141 Moreno, Estate of v. Comr. (CA 8), 72
TC), 9 Gallenstein v. U.S. (CA 6), 191 Moss, Estate of v. Comr. (US TC), 188
Ballard v. Comr. (CA 7), 133 Grace; U.S. v. (US SupCt), 72 Murphy, Estate of v. Comr. (US TCM), 60
Bank of America National Trust & Savings Gradow v. U.S. (US ClsCt), 91 Murphy, Estate of v. U.S. (DC WOkla), 5
Association; U.S. v. (CA 9), 142 Grynberg v. U.S. (DC Colo), 66 New House, Estate of v. Comr. (US TC), 11
— (Grimes Estate) v. Comr. (CA 7), 12; Hall, Estate of v. Comr. (CA 6), 17 Nicholson, Estate of v. Comr. (US TC), 158
1 Headrick, Estate of v. Comr. (CA 6), 36; 52 N.L. Roth v. U.S. (DC Mo), 109
Beaty v. U.S. (CA 6), 21 Heyen v. U.S. (DC Kan), 23; (DC Kan), 23 Obering, Estate of v. Comr. (US TCM), 109
Belv . U.S. (CA 5), 51 Higgins; Maass v. (US SupCt), 160 O’Keeffe, Estate of v. Comr. (US TCM), 168
Bell, Estate of v. Comr. (CA 9),2 Holl, Estate of v. Comr. (US TC), 11; 160 Old Colony Trust Co. v. Comr. (US SupCt),
Bischoff, Estate of v. Comr. (US 70), 74; 109 Hope v. U.S. (US ClsCt), 4 141
Bosch; Comr. v. (US SupCt), 88; 158 Howard, Estate of v. Comr. (US TC), 86 O’Reilly v. Comr. (US TC), 25
Branigan Estate, In re (NJ SupCt), 192 In re, see name of party Patterson v. Shumate (US SupCt), 117; 194
Bronston, Estate of v. Comr. (US TCM), 189 Irvine v. U.S. (CA 8), 25; (US SupCt; pet Perry, Estate of v. Comr. (CA 5), 13; 36
Burdick, Estate of v. Comr. (US TC), 17 rehear), 25 Pillsbury, Estate of v. Comr. (US TCM), 193
Carlton v. U.S. (CA 9), 191 Jalkut, Estate of v. Comr. (US TC), 14 Powell v. U.S. (CA 11), 3
Carter, Estate of v. U.S. (CA 5), 10 Johnson, Estate of v. U.S. (CA 5), 16 Prince, Estate of v. Comr. (TCM), 9
Casey, Estate of v. Comr. (CA 4), 14; 189 Johnston, Estate of v. U.S. (CA 5), 160 Reno v. Comr. (CA 4), 18
Chronicle Publishing Co. v. Comr. (US TC), 4 Kennedy v. Comr. (CA 7), 88 Rheinstrom v. Comr. (CA 7), 12
Clayton, Estat: of v. Comr. (US TC), 19; 157 Klein, Estate of v. Comr. (CA 6), 18 Robertson, Estate of v. Comr. (US TC), 158
Clymer, Estate of v. Comr. (CA 3), 140 Kochell, In re (CA 7), 114 Rocovich v. U.S. (CA FC), 21
Cohen v. Comr. (CA 7), 134 Krabbenholft v. Comr. (CA 8), 25; (US TC), —(US ClsCt), 21
Comr., see name of opposing part 133 Schroeder v. U.S. (CA 10), 19
Connecticut National Bank v. U. g (CA 2), 8; Kraus, Estate of v. Comr. (CA 7), 158 Sid W. Richardson Foundation v. U.S. (CA 5),
(DC Conn), 8 Krause v. Comr. (US TC), 74 141
Continental Illinois National Bank & Trust Co. Kruikshank v. Comr. (US TC), 63 Smith, Estate of v. Comr. (US TC), 167
v. U.S. (CA 7), 60 Larotonda v. Comr. (US TC), 114 St. Louis Co. Bank v. U.S. (CA 8), 109
Cristofani, Estate of v. Comr. (US TC), 23; 91 Leder, Estate of v. Comr. (US TC), 52; (CA USS., see name of opposing party
Crummey v. Comr. (CA 9), 92; 154 10), 36 Vissering, Estate of v. Comr. (US TC), 15
Dancy v. Comr. (CA 4), 88 Lehman v. Comr. (CA 2),7 Ward v. Comr. (US TC), 63
Dickman v. Comr. (US SupCt), 132 Levy, Estate of v. Comr. (US TCM), 73 Weil, Estate of v. Comr. (US TC), 109
DiMarco v. Comr. (US TC), 190 Love, Estate of v. Comr. (CA 4), 16 Weir Foundation v. U.S. (CA 2), 141
Eakins, Estate of v. Comr. (CA 7), 125 Lueder, Estate of v. Comr. (CA 3), 72 Whittle, Estate of v. Comr. (US TC), 10
Ellingson, Estate of v. Comr. (US TC), 19; Maass v. Higgins (US SupCt), 160 William J. O’Neill, Jr. Irrevocable Trust v.
(CA 9), 124 Marine, Estate of v. Comr. (US TC), 17 Comr. (US TC), 92
Estate of, see name of party Martin v. U.S. (CA 7), 19 Wilson v. Comr. (US TCM), 188
Ferman v. U.S. (DC ELa), 124 Maxwell, Estate of v. Comr. (US TC), 125 Winter v. U.S. (US ClsCt), 3
TABLE OF IRS DECISIONS AND RULINGS
ACTIONS ON DECISIONS PRIVATE LETTER RULINGS —9047028. N
—1991-012.. : —7916029 —9048049
—1992-09 91 —8012007 —9050054
ANNOUNCEMENTS —8310027 —9101025
es 8 20 —8509005 —9102013
64 —8910035 —9102018
GENERAL COUNSEL nents ™ —8944009 —9106008
—9007015 —9108027 *Y
—39566 136 —9015029 —9110016
. ire
—39858 q —9026036 —9110019
NOTICES —9026041 —9110020
—87-13 124 —9037012 —9110052 CMOOUOI NAIOOWA~)