Changes to the Internal Revenue Code made by TRA ’97 and the Internal Revenue Restructuring and Reform Act of 1998 (’98 Act). Read More
Generally, a defective grantor trust is an irrevocable trust for the benefit of children and/or grandchildren in which the grantor does not retain any income interest. Read More
The grantor retained annuity trust or GRAT is an effective planning strategy for transferring assets to the next generation at a discounted gift tax cost. Read More
Relying on language contained in the partnership agreement, TAM 9751003 recently concluded that gifts of limited partnership interests were not transfers of present interest and, therefore, did not qualify for $10,000 gift tax annual exclusion. Read More
The explosion in the stock market left many individuals with large account balances in qualified retirement plans and individual retirements accounts (IRAs). Read More