IRS Issues Ruling on GST Tax and Charitable Deduction

How to treat amounts distributed to beneficiaries under a settlement agreement

Prior to September 1985, a decedent executed a will directing that on her death, her property be distributed to her surviving spouse, children, grandchildren and charity.  After she executed her will, the decedent was declared incompetent.  She never regained competency up to and including the date of her death.  The decedent’s estate timely filed an estate tax return and attached a copy of the decedent’s judgment of incompetency.

All access premium subscription

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

Hide 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.