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Taxation-Federal Estate and Gift Commons™
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Full-Text Articles in Taxation-Federal Estate and Gift
Oklahoma Tax Commission V. United States: Death Taxes On Restricted Indian Personalty, Thomas Simmons
Oklahoma Tax Commission V. United States: Death Taxes On Restricted Indian Personalty, Thomas Simmons
Faculty Publications
No abstract provided.
The Fundamentals Of Wealth Transfer Tax Planning: 2011 And Beyond, John A. Miller, Jeffrey A. Maine
The Fundamentals Of Wealth Transfer Tax Planning: 2011 And Beyond, John A. Miller, Jeffrey A. Maine
Faculty Publications
This article discusses basic aspects of all three transfer taxes, with particular emphasis on the estate tax. This article then outlines fundamental estate planning techniques in light of the impact of these taxes. In addition, references are provided in the footnotes to more detailed treatments of the planning techniques described here.
Construing Wills And Trusts During The Estate Tax Hiatus In 2010, S. Alan Medlin, F. Ladson Boyle
Construing Wills And Trusts During The Estate Tax Hiatus In 2010, S. Alan Medlin, F. Ladson Boyle
Faculty Publications
Many estate planners have drafted wills and revocable trusts with dispositive provisions based on formulas. These formulas often use language based on transfer tax terminology. For clients who die in 2010, the language used in these formulas will be ambiguous, if not apparently meaningless, because Congress failed to re-institute the estate tax for 2010. The resulting 2010 estate tax hiatus will result in will and revocable trust construction problems for the estates of many decedents who die during the hiatus. Courts will have to use statutory and common law construction methods to attempt to determine the decedent's dispositive intentions. This …
Giving Intellectual Property, Xuan-Thao Nguyen, Jeffrey A. Maine
Giving Intellectual Property, Xuan-Thao Nguyen, Jeffrey A. Maine
Faculty Publications
The interdisciplinarity of intellectual property and taxation poses many challenges to the disparate existing norms in each field of law. This Article identifies and critiques the current tax regime governing the giving of intellectual property as a manifestation of the failure to understand the principles and policies underlying intellectual property and the firm. It proposes an incentives-based system that would encourage firms to extricate part of their repository of residual rights by surrendering their monopolistic ownership of intellectual property for the benefit of charitable organizations and, in turn, the development and growth of society.
When Gift Planning Goes Awry, Thomas Simmons
When Gift Planning Goes Awry, Thomas Simmons
Faculty Publications
Advisors to gift recipients need to be aware of the possibility of gifts with attached transferee liability.
Toward A Practical Estate-Tax Exclusion For Family-Run Businesses: Analysis Of Section 2033a And Proposal For Reform, Eric D. Chason, Robert T. Danforth
Toward A Practical Estate-Tax Exclusion For Family-Run Businesses: Analysis Of Section 2033a And Proposal For Reform, Eric D. Chason, Robert T. Danforth
Faculty Publications
In a previous work appearing in this Journal, the authors proposed an approach to estate and gift taxation that encourages productive behavior by the recipients of wealth. In this Article, the authors analyze, in the context of their earlier work, the new estate-tax exclusion for closely held businesses (section 2033A) created by the Taxpayer Relief Act of 1997. The authors describe the features of a practical family-run business exclusion and conclude that section 2033A, in its present form, fails as a practical exclusion. The authors catalogue those elements of section 2033A that should be retained and propose reforms of those …
The Proper Role Of The Estate And Gift Taxation Of Closely Held Businesses, Eric D. Chason, Robert T. Danforth
The Proper Role Of The Estate And Gift Taxation Of Closely Held Businesses, Eric D. Chason, Robert T. Danforth
Faculty Publications
The authors argue that the goals of estate and gift taxation are not served by taxing closely held businesses when the recipient of the business actively participates in its operation. Further, the authors suggest that taxing closely held businesses tends to harm capital production. The authors propose an approach to estate and gift taxation that encourages productive behavior by the recipients of wealth.
Joint And Survivor Annuities Under Erisa -- The Gamble On Survival, John W. Lee
Joint And Survivor Annuities Under Erisa -- The Gamble On Survival, John W. Lee
Faculty Publications
No abstract provided.