Skip navigation
TE-tips.jpg

Tips From the Pros: The Specter of Double Inclusion in the Gross Estate

Charles A. Redd discusses the anomaly of double inclusion in two Tax Court decisions.

Estate of Powell v. Commissioner1 is well-known among estate-planning professionals for having staked out new ground in its Internal Revenue Code Section 2036(a)(2) analysis. The decedent, Nancy Powell, a week before her death, conveyed about $10 million in cash and securities to a family limited partnership (FLP) in exchange for a 99% limited partner interest. The Tax Court held that IRC Section 2036(a)(2) applied because, at the moment of her death, the decedent had the

ARTICLE ACCESS REQUIRED

Please Log in if you are currently a Trust&Estates subscriber, or select DAYPASS for our new 24 hour access (nominal fee required).


If you are interested in unlimited article access for one year, please select Annual Subscription below.

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