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Wandering Far Afield With Defined Value Clauses, Wendy G. Gerzog
Wandering Far Afield With Defined Value Clauses, Wendy G. Gerzog
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The Wandry decision extends the application of defined value clauses beyond those family limited partnership cases that transfer any excess value to a charity. In Wandry, the Tax Court reads Procter narrowly and ignores the fundamental rationale of Robinette.