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The New Super-Charged Pat (Power Of Appointment Trust), Wendy G. Gerzog
The New Super-Charged Pat (Power Of Appointment Trust), Wendy G. Gerzog
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This article proposes to repeal the QTIP provisions in order to collect revenue now for transfers that are essentially transfers to third parties and not to the decedent's spouse. Because there are advantages of increased flexibility attendant to a QTIP as opposed to a PAT, this article proposes to take those repealed QTIP benefits and attach them to the PAT, which would greatly enhance that marital deduction trust form. A super-charged PAT would thereby be able to preserve the decedent's GST tax exemption (like a reverse QTIP), create a decedent's by-pass trust by allowing a PAT (or a partial PAT) …
Linton Reversed: Indirect Gifts And The Step Transaction Doctrine, Wendy G. Gerzog
Linton Reversed: Indirect Gifts And The Step Transaction Doctrine, Wendy G. Gerzog
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The Ninth Circuit recently reversed the district court’s summary judgment in favor of the government in Linton on the issues of indirect gift and the applicability of the step transaction doctrine. The circuit court’s analysis focused on the taxpayers’ donative intent. With that emphasis, the Ninth Circuit remanded the case to the district court to determine the sequence of the relevant transactions.