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.


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.

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.

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.

Illinois Bar Journal

This article offers suggestions for drafting estate planning documents based on the Illinois estate tax and provides guidance for determining when and how to pay the tax.

TAXES The Tax Magazine

An individual's death does not terminate federal tax return filing requirements. In fact, subsequent to a decedent's death ("postmortem") income tax returns may be required for the decedent, the decedent's estate, and certain trusts established by the decedent.

Syracuse Law Review

Prior to Chapter 14, a commonly-recommended estate tax reduction strategy was what practitioners and others referred to as "corporate estate freezes." This strategy was pertinent to families with substantial wealth that were involved in one or more closely held businesses. In the corporate context, it typically involved recapitalization of a family business to a multi-stock corporation, followed by the transfer (either by gift or purchase) of one class of stock, the perceived growth stock, to children and grandchildren.