Tax Law Update

Grantor's power to substitute property may not require inclusion of the property in the grantor's gross estate. There has long been concern that a grantor's power to substitute property of a trust, which may be used to render the trust a grantor trust under Internal Revenue Code Section 675, may cause the trust property to be includible in the grantor's estate under IRC Sections 2036 or 2038. In Revenue

Grantor's power to substitute property may not require inclusion of the property in the grantor's gross estate. There has long been concern that a grantor's power to substitute property of a trust, which may be used to render the trust a grantor trust under Internal Revenue Code Section 675, may cause the trust property to be includible in the grantor's estate under IRC Sections 2036 or 2038. In Revenue Ruling 2008-22, 2008-16 IRB 796 (April, 17, 2008), the Internal Revenue Service res

All access premium subscription

Your subscription will include 12 months of Trusts & Estates magazine and access to premium content on WealthManagement.com.

TAGS: Archive
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish