ESTATE PLANNING

A buy-out agreement that provides for the installment purchase of a decedent's stock can protect the availability of the Section 6166 election to defer the payment of estate tax attributable to a closely held business interest.

South Carolina Lawyer

The South Carolina estate tax, S.C. Code Ann.§ 12-16-10 et seq, imposes a tax on the transfer of the estate of both residents and nonresidents. Id., § 12-16-510, 520. (The South Carolina Estate Tax Act also imposes a tax on the transfer of the estate of aliens and includes a generation-skipping transfer tax. This article does not address these issues.) On its face, the tax appears straightforward and, in effect, represents a relatively fair death tax approach. Nevertheless, it contains unexpected nuances.

The Florida Bar Journal

The Florida estate tax imposes a tax upon the transfer of estates of both resident and nonresident decedents. On its face, the tax appears straightforward and, in effect, has represented a fair death tax approach. Nevertheless, the Florida
estate tax contains unexpected nuances.

TAX MANAGEMENT ESTATES, GIFTS AND TRUSTS JOURNAL

Congress has a tendency to amend the Internal Revenue Code to achieve short-term goals without concern about the consistency these amendments have with other Code provisions.

Probate & Property

As client pressure to minimize legal fees continues to mount, estate planning lawyers must reexamine their billing practices. Increased computer capability has led to drafting efficiencies, which have allowed estate planners to focus more on estate tax planning and less on actual drafting. This approach affects a traditional strategy used to mitigate tfle burden of estate planning fees: deducting a portion of those fees for income tax purposes.

Tax Lawyer

Underlying the basic premise of the Internal Revenue Code-the desire to raise revenue for the federal government-is a congressional desire to achieve policy objectives through the enactment of specific tax legislation.

PEPPERDINE LAW REVIEW

The Internal Revenue Code imposes taxes in addition to the income tax. One type, referred to as the federal estate tax, taxes the transfer of property at death.

The Journal of Taxation

The possibility of appreciation, the value of a reversionary interest, and the opportunity cost of alternative gifts all must be considered.

Anderson Publishing Co.

Valuing retained rights in the corporate or partnership setting under chapter 14

Taxation For Lawyers

This article explains when estate planning fees are deductible and what practitioners can do to help taxpayers support such a deduction.

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