Beyond Hubert

Most estate planners are aware that under Internal Revenue Code Section 642(g), estate administration expenses may be taken as estate tax deductions or income tax deductions but not both.1 In most taxable estates, that is to say estates where a federal estate tax is payable because there is no unlimited marital deduction and the estate is large enough (when combined with adjusted taxable gifts) to

Most estate planners are aware that under Internal Revenue Code Section 642(g), estate administration expenses may be taken as estate tax deductions or income tax deductions — but not both.1 In most taxable estates, that is to say estates where a federal estate tax is payable because there is no unlimited marital deduction and the estate is large enough (when combined with adjusted taxable gifts) to exceed the applicable exclusion amount, it traditionally has made sense to take adm

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