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Articles 1 - 9 of 9
Full-Text Articles in Law
Who Killed The Rule Against Perpetuities?, Grayson M. P. Mccouch
Who Killed The Rule Against Perpetuities?, Grayson M. P. Mccouch
Pepperdine Law Review
During the last two decades more than half the states have either abolished or substantially weakened the traditional rule against perpetuities. The increased demand for perpetual trusts is widely attributed to the ability of such trusts to avoid federal wealth transfer taxes. Furthermore, recent empirical studies confirm a correlation between repeal of the rule against perpetuities (coupled with favorable state income tax treatment) and increased personal trust assets and average account size. This symposium article discusses the asymmetric benefits and drawbacks of perpetual trusts and concludes that the decline of the rule against perpetuities cannot be explained solely in terms …
Occupy The Tax Code: Using The Estate Tax To Reduce Inequality And Spur Economic Growth, Paul L. Caron, James R. Repetti
Occupy The Tax Code: Using The Estate Tax To Reduce Inequality And Spur Economic Growth, Paul L. Caron, James R. Repetti
Pepperdine Law Review
Inequality has been increasing in the United States. We should care about this increase because inequality contributes to a variety of adverse social consequences that persist across generations. There is also substantial empirical evidence that inequality has a long-term negative impact on economic growth. For many decades, federal tax policy has played an important role in reducing inequality, although the impact of federal taxes on inequality has waxed and waned depending on the focus of elected officials. We argue that the estate tax is a particularly apt vehicle to reduce inequality because inheritances are a major source of wealth among …
Distracted From Distraction By Distraction: Reimagining Estate Tax Reform, Edward J. Mccaffery
Distracted From Distraction By Distraction: Reimagining Estate Tax Reform, Edward J. Mccaffery
Pepperdine Law Review
Recent legislation has left a gift and estate tax that will apply to far fewer than 1% of all decedents each year. This Article, prepared for a symposium on Tax Advice for the Second Obama Administration, argues that the estate tax has become largely irrelevant, except ironically as a spur to the creation and perpetuation of dynastic wealth via 'Dynasty Trusts.' The tax no longer meets any compelling policy rationale, such as raising revenue, 'backing up” the income tax, injecting progression into the tax system, or breaking up large concentrations of wealth. It is time to move on, and to …
How To Accomplish A Successful Tax-Free Pension Plan Rollover, Steven T. Graham
How To Accomplish A Successful Tax-Free Pension Plan Rollover, Steven T. Graham
Pepperdine Law Review
Advising a client how to accomplish a tax-free rollover from one pension plan to another has been an area of confusion for the general practitioner. In order to end this confusion the author examines recent statutory amendments, Internal Revenue Service rulings and the Employee Retirement Income Security Act. The author then outlines, in conjunction with the recent changes in the law, potential pension plan rollover scenarios that can aid the client. After a thorough discussion of the available rollovers and the benefits and drawbacks of each, the author concludes with a chart designed to provide quick identification of the most …
Recent Legislative Changes As To The Reporting And Payment Of The Gift Tax: A Step Toward Tax Simplification, Harry F. Byrd Jr.
Recent Legislative Changes As To The Reporting And Payment Of The Gift Tax: A Step Toward Tax Simplification, Harry F. Byrd Jr.
Pepperdine Law Review
The overly complex nature of the nation's tax laws has spurred congressional action to simplify the tax code. United States Senator Harry F. Byrd, Jr. has demonstrated his commitment toward this goal by his recent introduction of the Annual Gift Tax Return Act. This measure, enacted as part of the Economic Recovery Tax Act of 1981, provides a return to the system of annual gift tax reporting. More significantly, it demonstrates that simplification of the tax laws can be achieved without sacrificing other goals, and without additional costs to the taxpayer.
It Pays To Give It Away - Sometimes: Inter Vivos Charitable Remainder Unitrusts In Estate Planning, Robert G. Popovich
It Pays To Give It Away - Sometimes: Inter Vivos Charitable Remainder Unitrusts In Estate Planning, Robert G. Popovich
Pepperdine Law Review
No abstract provided.
The Case For The Retention Of The State Death Tax Credit In The Federal Transfer Tax Scheme: "Just Say No" To A Deduction, John M. Janiga, Louis S. Harrison
The Case For The Retention Of The State Death Tax Credit In The Federal Transfer Tax Scheme: "Just Say No" To A Deduction, John M. Janiga, Louis S. Harrison
Pepperdine Law Review
No abstract provided.
Crummey Trusts: An Exploitation Of The Annual Exclusion, Dora Arash
Crummey Trusts: An Exploitation Of The Annual Exclusion, Dora Arash
Pepperdine Law Review
No abstract provided.
Leaping Before We Look?: Repeal Of The State Estate Tax Credit And The Consequences For States, Americans, And The Federal Government, Susan K. Hill
Leaping Before We Look?: Repeal Of The State Estate Tax Credit And The Consequences For States, Americans, And The Federal Government, Susan K. Hill
Pepperdine Law Review
No abstract provided.