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Taxation-Federal Estate and Gift Commons

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Articles 571 - 600 of 1409

Full-Text Articles in Taxation-Federal Estate and Gift

Higher Education Savings And Planning: Tax And Nontax Considerations, F. Philip Manns Jr., Timothy M. Todd May 2018

Higher Education Savings And Planning: Tax And Nontax Considerations, F. Philip Manns Jr., Timothy M. Todd

Texas A&M Law Review

Funding higher education is among the critical financial decisions made by individuals and families. There are myriad options. Yet, the conventional wisdom—namely using Section 529 Plans—may not be the optimal vehicle to effectuate this goal. Therefore, this Article discusses various strategies to plan, save, and pay for higher education. It compares various savings methods including gifts, UTMA accounts, Section 529 Plans, trusts, and other vehicles. The analysis explores both tax and non-tax considerations, including the effect of different strategies on financial aid, transaction costs, investor control, income taxes, gift and estate taxes, flexibility, and creditor protection. This Article concludes that …


My Response To Beyer And Bove, Richard C. Ausness Mar 2018

My Response To Beyer And Bove, Richard C. Ausness

ACTEC Law Journal

No abstract provided.


A Brief Review Of Professor F. Philip Manns, Jr., Powers Of Attorney Under The Uniform Power Of Attorney Act Including Reference To Virginia Law, Howard M. Zaritsky Mar 2018

A Brief Review Of Professor F. Philip Manns, Jr., Powers Of Attorney Under The Uniform Power Of Attorney Act Including Reference To Virginia Law, Howard M. Zaritsky

ACTEC Law Journal

No abstract provided.


Reactions To Discretionary Trusts: An Update By Richard C. Ausness, Gerry W. Beyer Mar 2018

Reactions To Discretionary Trusts: An Update By Richard C. Ausness, Gerry W. Beyer

ACTEC Law Journal

No abstract provided.


Front Matter Mar 2018

Front Matter

ACTEC Law Journal

No abstract provided.


Commentary On Discretionary Trusts: An Update By Richard C. Ausness, Alexander A. Bove Jr. Mar 2018

Commentary On Discretionary Trusts: An Update By Richard C. Ausness, Alexander A. Bove Jr.

ACTEC Law Journal

No abstract provided.


Undue Influence: The Gap Between Current Law And Scientific Approaches To Decision-Making And Persuasion, Dominic J. Campisi, Evan D. Winet, Jake Calvert Mar 2018

Undue Influence: The Gap Between Current Law And Scientific Approaches To Decision-Making And Persuasion, Dominic J. Campisi, Evan D. Winet, Jake Calvert

ACTEC Law Journal

No abstract provided.


Explaining The "Inexplicable": A Response To Powers Of Attorney Under The Uniform Power Of Attorney Act Including Reference To Virginia Law By Philip Manns, Jr., Andrew H. Hook, Jessica A. Hayes Mar 2018

Explaining The "Inexplicable": A Response To Powers Of Attorney Under The Uniform Power Of Attorney Act Including Reference To Virginia Law By Philip Manns, Jr., Andrew H. Hook, Jessica A. Hayes

ACTEC Law Journal

No abstract provided.


The Upoaa & Vaupoaa: My Response, F. Philip Manns Jr. Mar 2018

The Upoaa & Vaupoaa: My Response, F. Philip Manns Jr.

ACTEC Law Journal

No abstract provided.


Over My Dead Body: Preventing And Resolving Disputes Regarding The Disposition Of The Dead, Shawn Irwin Walker Mar 2018

Over My Dead Body: Preventing And Resolving Disputes Regarding The Disposition Of The Dead, Shawn Irwin Walker

ACTEC Law Journal

The death of a loved one can be one of the most difficult times of a person's life. This difficulty is multiplied when disputes arise regarding the final disposition of the loved one's bodily remains. There are unique issues that exist in disputes when human remains are involved that do not necessarily exist in other disputes that occur after death. Resolving these disputes involves looking to varying state laws that often use a status-based scheme that prioritizes who controls the remains. When a dispute exists regarding the disposition of remains there are a number of vehicles and avenues parties could …


Determining An Asset's Tax Basis In The Absence Of A Meaningful Transfer Tax Regime, Jay A. Soled, Richard L. Schmalbeck Jan 2018

Determining An Asset's Tax Basis In The Absence Of A Meaningful Transfer Tax Regime, Jay A. Soled, Richard L. Schmalbeck

Faculty Scholarship

Until recently, in those circumstances where there was a valuation range with respect to a particular asset, executors faced a choice: among estates subject to the estate tax, declaring a high value would increase the estate tax liability; however, due to the Internal Revenue Code's "basis equal to fair market value" rule applicable at death, declaring a low value would expose heirs to a greater capital gains tax on subsequent asset disposition. Because the estate tax rates were higher and that tax was immediate (as opposed to deferred until a later sale by the heir), executors typically minimized asset values, …


Improving Tax Rules By Means-Testing: Bridging Wealth Inequality And “Ability To Pay”, James M. Puckett Jan 2018

Improving Tax Rules By Means-Testing: Bridging Wealth Inequality And “Ability To Pay”, James M. Puckett

Oklahoma Law Review

No abstract provided.


Improving Tax Rules By Means-Testing: Bridging Wealth Inequality And "Ability To Pay", James M. Puckett Jan 2018

Improving Tax Rules By Means-Testing: Bridging Wealth Inequality And "Ability To Pay", James M. Puckett

Faculty Scholarship

The federal income tax can and should do more to address wealth disparities and income inequality. The income tax does not directly count wealth, and the realization rule and basis "step-up" at death exclude substantial amounts of income for the wealthy. The Constitution limits Congress's ability to tax wealth. Despite these serious challenges, this Article considers how to potentially bridge the gap between wealth and the income tax. For example, asset-based phase-outs in the income tax should pass muster without apportionment, although their bite would necessarily be limited. The Article posits that the public would be more receptive to phase-outs …


Family Limited Partnerships And Section 2036: Not Such A Good Fit, Mitchell M. Gans, Jonathan G. Blattmachr Dec 2017

Family Limited Partnerships And Section 2036: Not Such A Good Fit, Mitchell M. Gans, Jonathan G. Blattmachr

ACTEC Law Journal

The IRS has struggled to close down abusive family limited partnerships. At first unreceptive to IRS arguments, the courts eventually embraced section 2036 as an estate-tax tool for attacking such partnerships. Because the section was not designed to apply to partnerships, difficulties have arisen as the courts have struggled with the fit. In its most recent encounter, the Tax Court in Powell grappled with a fit-related issue that implicates the Supreme Court’s landmark decision in Byrum. The Powell court, it will be argued, misread Byrum, conflating the majority opinion with the dissent – and converting the rule-based approach …


Front Matter Dec 2017

Front Matter

ACTEC Law Journal

No abstract provided.


Social Control Of Wealth In Antebellum New York, William P. Lapiana Dec 2017

Social Control Of Wealth In Antebellum New York, William P. Lapiana

ACTEC Law Journal

No abstract provided.


Democracy And Trusts, Carla Spivack Dec 2017

Democracy And Trusts, Carla Spivack

ACTEC Law Journal

Spendthrift trusts which shield assets from creditors have been an ongoing problem for the law since their advent in the nineteenth century. Other, very recent, forms of trust are an even bigger problem: they take the notion of asset protection much farther, allowing settlors to protect not only the beneficiary’s assets, but their own, from creditors; these are called “self-settled asset protection trusts". Moreover, more and more states allow so-called “dynasty trusts” which allow settlors and beneficiaries to maintain assets in trust tax free for generations, overturning long-settled principles of the common law such as the Rule Against Perpetuities. All …


Honoring Probable Intent In Intestacy: An Empirical Assessment Of The Default Rules And The Modern Family, Danaya C. Wright, Beth Sterner Dec 2017

Honoring Probable Intent In Intestacy: An Empirical Assessment Of The Default Rules And The Modern Family, Danaya C. Wright, Beth Sterner

ACTEC Law Journal

This article provides preliminary analysis of an empirical study of nearly 500 wills probated in Alachua and Escambia Counties in the State of Florida in 2013. The particular focus of the study is to determine if there are noticeable patterns of property distribution preferences among decedents based on their diverse family relationships. Earlier empirical studies of distribution preferences indicated that a majority of married decedents wanted to give all or most of their estates to their surviving spouses. As a result of these studies, most states amended their probate codes to give surviving spouses a sizable percentage of a decedent …


Please Don’T Make Me Pay Taxes: How New Irs Law Helps Art Collectors Avoid Hefty Taxes, Stephanie Dunn Sep 2017

Please Don’T Make Me Pay Taxes: How New Irs Law Helps Art Collectors Avoid Hefty Taxes, Stephanie Dunn

Journal of the National Association of Administrative Law Judiciary

No abstract provided.


In Memoriam Dennis Belcher: Lessons I Learned At The Feet Of The Master, Dana G. Fitzsimons Jr. Sep 2017

In Memoriam Dennis Belcher: Lessons I Learned At The Feet Of The Master, Dana G. Fitzsimons Jr.

ACTEC Law Journal

No abstract provided.


Larger Than Life, Carol Harrington Sep 2017

Larger Than Life, Carol Harrington

ACTEC Law Journal

No abstract provided.


Remembering Dennis Belcher, W. Bjarne Johnson Sep 2017

Remembering Dennis Belcher, W. Bjarne Johnson

ACTEC Law Journal

No abstract provided.


Dennis Belcher's Little Red Book: The Wit And Wisdom Of Dennis Belcher, Steve R. Akers Sep 2017

Dennis Belcher's Little Red Book: The Wit And Wisdom Of Dennis Belcher, Steve R. Akers

ACTEC Law Journal

No abstract provided.


Memories Of A Partner, Colleague, Servant-Leader, And Friend, Ronald D. Aucutt Sep 2017

Memories Of A Partner, Colleague, Servant-Leader, And Friend, Ronald D. Aucutt

ACTEC Law Journal

No abstract provided.


A Remarkable Man; An Extraordinary Year, Karen M. Moore Sep 2017

A Remarkable Man; An Extraordinary Year, Karen M. Moore

ACTEC Law Journal

No abstract provided.


What Made Dennis Special?, Jeffrey N. Pennell Sep 2017

What Made Dennis Special?, Jeffrey N. Pennell

ACTEC Law Journal

No abstract provided.


Tribute To Dennis Belcher, Ed Koren Sep 2017

Tribute To Dennis Belcher, Ed Koren

ACTEC Law Journal

No abstract provided.


Remembering Dennis Belcher: A Trusted Advisor And Friend, Tina Portuondo Sep 2017

Remembering Dennis Belcher: A Trusted Advisor And Friend, Tina Portuondo

ACTEC Law Journal

No abstract provided.


Reflections On Dennis I. Belcher: A True Leader, Pam H. Schneider Sep 2017

Reflections On Dennis I. Belcher: A True Leader, Pam H. Schneider

ACTEC Law Journal

No abstract provided.


Dennis Irl Belcher: An Appreciation, James H. Walsh Sep 2017

Dennis Irl Belcher: An Appreciation, James H. Walsh

ACTEC Law Journal

No abstract provided.