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Results: 11-20 of 146

Keller v. United States, 5th Cir., No. 10-41311 (092512)
  • Proskauer Rose LLP
  • USA
  • November 15 2012

In Keller, the Fifth Circuit Court of Appeals ruled that an estate was entitled to an estate tax refund for the discounted value of a family limited partnership ("FLP") that was created during the decedent's lifetime but not fully funded until after the decedent's death


Estate of Turner v. Comm’r, T.C. Memo 2011-209 (Aug. 30, 2011)
  • Proskauer Rose LLP
  • USA
  • November 15 2011

The Tax Court has held that (a) assets contributed to a family limited partnership (“FLP”) were includable in a decedent’s gross estate under section 2036(a) of the Internal Revenue Code of 1986, as amended (“I.R.C.”), and (b) premiums paid directly to a carrier on behalf of an insurance trust qualified for the annual gift tax exclusion as present interest gifts


New York significantly changes its estate tax no decrease in estate tax for the wealthy
  • Proskauer Rose LLP
  • USA
  • April 3 2014

The New York State legislature has passed, and New York Governor Andrew M. Cuomo has signed, the Executive Budget for 2014-2015, which significantly


Tax court finds transfer of an interest in a limited partnership and timberland to an FLP was not includible in the decedent’s gross estate under Section 2036(a) because the transfer was a bona fide sale for adequate and full consideration
  • Proskauer Rose LLP
  • USA
  • March 10 2010

This Tax Court decision provides another Section 2036 victory for the taxpayer by holding that assets transferred to an FLP were not includible in the decedent's gross estate under Section 2036(a) because the transfer was a bona fide sale for adequate and full consideration


Tax Court applies 25 percent lack of marketability discount to valuation of interest in limited partnership holding timber property, but finds that lack of control discount is already implicit in valuation methodology applied to property Estate of Giust
  • Proskauer Rose LLP
  • USA
  • August 5 2011

At issue in Giustina was the valuation of a minority interest in a limited partnership that owned approximately 48,000 acres of timber property


U.S. government sues estate and donees of J. Howard Marshall II for unpaid gift taxes
  • Proskauer Rose LLP
  • USA
  • November 5 2010

The U.S. government is suing the estate and donees of J. Howard Marshall for a combined $85 million of unpaid gift and GST taxes


Wealth management update
  • Proskauer Rose LLP
  • USA
  • July 23 2014

The August 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 2.2, the same as the 7520 rate for July. The


Wealth management update
  • Proskauer Rose LLP
  • USA
  • September 4 2014

The September 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 2.2, the same rate as August. The September


December interest rates for GRATs, sales to defective grantor trusts, intra-family loans and split interest charitable trusts
  • Proskauer Rose LLP
  • USA
  • December 12 2013

The December 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 2.0, which is unchanged from last month


2014 estate, gift and GST tax update: what this means for your current will, revocable trust and estate plan
  • Proskauer Rose LLP
  • USA
  • December 19 2013

As we previously reported, the American Taxpayer Relief Act of 2012 (the "Act") made the following permanent: (1) the reunification of the estate and