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Boomer-Ang Eldercare: Deductible Claim?, Wendy G. Gerzog
Boomer-Ang Eldercare: Deductible Claim?, Wendy G. Gerzog
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In this article, Gerzog discusses Estate of Olivo, in which the Tax Court determined the deductibility under section 2053 of a claim against the decedent’s estate for eldercare services provided by a family member.
Flp In The Black, Wendy G. Gerzog
Flp In The Black, Wendy G. Gerzog
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In Estate of Black, because the Tax Court held the Blacks' transfers fell within the bona fide sales exception of section 2036, they were successful at avoiding the application of the provision. Thus, they were able to obtain valuation discounts for their transfers of property (mostly marketable securities) to their son and grandchildren. The court also decided the marital trust funding valuation date issue in the executor's favor and allowed almost half of the claimed administrative expense deductions.