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University of Baltimore Law

2012

Taxation-Federal Estate and Gift

Wandry

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Wandering Far Afield With Defined Value Clauses, Wendy G. Gerzog May 2012

Wandering Far Afield With Defined Value Clauses, Wendy G. Gerzog

All Faculty Scholarship

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.