Download or read book Federal Taxes on Gratuitous Transfers Law and Planning written by Joseph M. Dodge and published by Aspen Publishing. This book was released on 2023-01-31 with total page 817 pages. Available in PDF, EPUB and Kindle. Book excerpt: Federal Taxes on Gratuitous Transfers: Law and Planning, Second Edition is a sophisticated Estate & Gift Tax casebook with plenty of problems, nuance, and policy discussion. The purchase of this ebook edition does not entitle you to receive access to the Connected eBook on CasebookConnect. You will need to purchase a new print book to get access to the full experience including: lifetime access to the online ebook with highlight, annotation, and search capabilities, plus an outline tool and other helpful resources. This book deals primarily with the federal wealth transfer taxes, and with the federal income tax as it bears on gratuitous transfers. The federal wealth transfer taxes presently consist of a partially unified estate and gift tax and a generation-skipping tax. The federal transfer tax system is separate and apart from the federal income tax. The book includes relevant case law and references to statutes and regulations and has many explanations and problems to help students new to the field to find a way through this complicated material. The book is appropriate for both J.D. and LL.M. courses in Estate and Gift Tax. New to the 2nd Edition: All material up to date with current law and current exemption amounts (as of 2023) All new chapter on estate and gift tax issues for individuals who are noncitizens or nonresidents Income taxation of trusts and estates material moved to stand-alone chapter Raises issues of race, gender, sexual orientation, and other identity taxes, making it easier for students to connect doctrine and policy Discussion of policy debate around long-term and perpetual trusts Lists, illustrations and photographs provide engaging visual commentary Sidebars on relevant persons, places, and things provide interesting content, surprising those who think that tax is a dry and boring subject Professors and students will benefit from: Emphasis on text, statutes, and regulations, rather than cases. “Building block” organization (simple to complex estates), rather than segmented organization according to Code sections. Extensive use of questions and problems to aid students. High-profile authorship: Joseph M. Dodge and Wendy C. Gerzog are distinguished emeriti faculty. Bridget J. Crawford, Jennifer Bird-Pollan, and Victoria J. Haneman are all well-established in the field and are attuned to the needs of today’s students. Reconstitutes the Estate and Gift tax course from the ground up in light of modern estates practice. More emphasis on valuation and use of FLPs than in other books; valuation is introduced early on and integrated with other material. Relation of tax doctrine to tax planning strategies. Focus on doctrine that influences the practice of estate and trust law, rather than doctrine for its own sake. Reference to state law (including recent developments) as it bears on transfer tax issues, with full coverage of issues raised by community property systems

Download or read book Federal Taxation of Wealth Transfers written by Stephanie J. Willbanks and published by Aspen Publishing. This book was released on 2024-02-01 with total page 772 pages. Available in PDF, EPUB and Kindle. Book excerpt: With an emphasis on tax planning, Federal Taxation of Wealth Transfers: Cases and Problems integrates stimulating problems with statutes, regulations, and cases to create a highly teachable and student-friendly casebook. This casebook emphasizes problem solving, statutory construction, and policy-analysis skills, and is ideal for 2- or 3-credit courses in estate and gift taxation. The text has been expanded to feature new cases, administrative rulings, and studies. Existing cases and text have been edited or deleted to highlight essential themes. The casebook is logically organized but its flexible organization accommodates reorganizing material to fit individual course structures, and could be used for a basic wealth transfer tax class or to complement an estate planning course. New to the 5th Edition: Alyssa A. DiRusso joins as a co-author, bringing her background in high-net-worth practice and in-house fiduciary administration to broaden the book’s perspective. A new introduction to gratuitous transfers in Chapter 1. More detailed analysis of defined value clauses in Chapter 3. A new section on taxation of nonprofit organizations in Chapter 14. New cases throughout the book. Updated values and computations. Professors and students will benefit from: Organization – the book is organized by the three different transfer taxes and by IRC section. Flexibility – the text, cases, and problems allow a focus on statutory construction, planning, or policy. Focus on basics – the book is adaptable to a two- or three-credit transfer tax course, to supplement an estate planning course, or for an LLM course. Detailed textual explanations with references to current cases and administrative rulings—but they also provide historical context and development. Problems that focus on discrete issues to build a solid foundation. Edited cases that focus on fundamentals.

Download or read book Federal Wealth Transfer Taxes written by Kevin M. Yamamoto and published by West Academic. This book was released on 2006-01-01 with total page 506 pages. Available in PDF, EPUB and Kindle. Book excerpt: The modern federal wealth transfer tax regime traces back to the Revenue Act of 1916. Today, the federal wealth transfer tax regime consists of three separate taxes: (1) the federal estate tax; (2) the federal gift tax; and (3) the federal generation-skipping transfer tax. All three taxes are excises imposed on the gratuitous transfer of wealth by individuals. Yamamoto and Donaldson's Black Letter Outline on Federal Wealth Transfer Taxes thoroughly covers and explains all three types of federal wealth transfer taxes.

Download or read book Federal Estate and Gift Taxation in a Nutshell written by John K. McNulty and published by West Publishing Company. This book was released on 1983 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt: Wealth Transfer Taxation; Constitutionality; The Federal Estate Tax, Gift Tax and Generation-Skipping Transfer Tax Outlined; Unification of Transfer Taxes; Gratuitous Transfers; Transfers During Life; Donative Intent; Consideration; Property; Transfer; Inclusion in the Gross Estate; Alternative Valuation Date; Liability for Tax; Incomplete Transfers; Transfers in Contemplation of Death; Retained Interests or Powers; Revocable Transfers; Special Valuation Rules and "Estate Freezes; " Jointly-Owned Property; Community Property; Property Settlements; Life Insurance; Annuities; Employee Death Benefits; Powers of Appointment; Inclusion; Valuation; Exemptions; Exclusions; Future Interests; Deductions (Charitable, etc.); Marital Deduction; Split Gifts; Unified Credit; International; Estate Planning; Reforms and Fundamental Alternatives.

Download or read book Federal Estate and Gift Taxation in a Nutshell written by John K. McNulty and published by . This book was released on 1989 with total page 586 pages. Available in PDF, EPUB and Kindle. Book excerpt: Wealth Transfer Taxation; Constitutionality; The Federal Estate Tax, Gift Tax and Generation-Skipping Transfer Tax Outlined; Unification of Transfer Taxes; Gratuitous Transfers; Transfers During Life; Donative Intent; Consideration; Property; Transfer; Inclusion in the Gross Estate; Alternative Valuation Date; Liability for Tax; Incomplete Transfers; Transfers in Contemplation of Death; Retained Interests or Powers; Revocable Transfers; Special Valuation Rules and "Estate Freezes; " Jointly-Owned Property; Community Property; Property Settlements; Life Insurance; Annuities; Employee Death Benefits; Powers of Appointment; Inclusion; Valuation; Exemptions; Exclusions; Future Interests; Deductions (Charitable, etc.); Marital Deduction; Split Gifts; Unified Credit; International; Estate Planning; Reforms and Fundamental Alternatives.

Download or read book Federal Estate and Gift Taxation written by Stephanie J. Willbanks and published by West Academic Publishing. This book was released on 2004 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: The focus of the book is on chapters 11, 12, and 13 of the Internal Revenue Code. Discusses selected income tax issues, but only in contrast with, or as an adjunct to, a discussion of the estate and gift tax treatment of those issues. This book is not an estate planning book or a comprehensive guide to the federal tax implications of all gratuitous transfers. Contains sections on deductions and credits and on the generation skipping transfer.

Download or read book Norms and Transfer Taxes written by Joseph M. Dodge and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This chapter lays out four normative categories and then applies them to the design of the federal transfer taxes. The norm categories, familiar to tax theorists, are derived by cross-cutting the internal/external (to tax) and means/ends dichotomies to yield: (1) social justice (external/ends), (2) economic efficiency (external/means), (3) allocative fairness (internal/ends) and (4) administrative feasibility (internal/means). Although the content of social justice norms is contestable, in legal (tax) academic discourse the discussion inevitably focuses on (re)distribution of material resources. The norm for allocative tax fairness is that of ability to pay. Accordingly, the principal positive rationales of a wealth transfer tax system are to curb excessive concentrations of wealth acquired by gratuitous transfer and/or to supplement the income tax to construct a tax base that fully conforms to the ability-to-pay principle. In either case, the tax would be imposed on transferees, not transferors, by way of (a) an accessions tax with large exemptions (to curb excessive acquisitions of unearned wealth) and/or (b) inclusion of gratuitous receipts in the income tax base (to achieve a comprehensive ability-to-pay tax base). Both approaches are administratively feasible. The economic efficiency objections to these approaches (relative to other forms of tax that would raise the same revenue) are found to be unpersuasive.

Download or read book Fundamentals of Will Drafting and Taxation of Gratuitous Transfers written by Curtis L. Stine and published by . This book was released on 1983 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Proceedings of New York University Annual Institute on Federal Taxation written by New York University. Institute on Federal Taxation and published by . This book was released on 2001 with total page 672 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Should We Tax the Gratuitous Transfer of Wealth written by James R. Repetti and published by . This book was released on 2016 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: The estate tax was enacted because of concerns about the impact of large concentrations of dynastic wealth on the political process. As discussed in this commentary, which reviews the Symposium articles by Paul Caron, David Joulfaian, and Jennifer Bird-Pollan, recent research by political scientists supports the legitimacy of these concerns. In addition, a significant body of studies suggests that inequality has a long-term negative impact on growth. Paul Caron observes in his article that progressivity in our tax system has been decreasing and that the estate tax was 60% or higher for fifty years (1934-1983), a rate much higher than the current 40%. David Joulfaian notes that the estate tax clearly contributes to the progressivity of our tax system. He finds that estate tax liability of a decedent is on average equivalent to doubling the income tax liability of decedents during the prior ten years. Jennifer Bird-Pollan explores the views on estate tax from a liberal, utilitarian, and libertarian philosophical perspective. This commentary notes some additional aspects of the estate tax that strengthen the utilitarian and liberal arguments in favor of the estate tax.

Download or read book A Program for Federal Tax Revision written by Harvey E. Brazer and published by . This book was released on 1960 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Cases and Materials on Gratuitous Transfers written by Elias Clark and published by West Academic Publishing. This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The new edition of Gratuitous Transfers incorporates new developments in judicial decisions and statutory law since 1999, including the Massachusetts Supreme Judicial Court's decision in Woodward v. Commissioner (status of posthumously-conceived children under intestacy law), the Montana Supreme Court's decision in In re Estate of Kuralt (holographic wills), and the U.S. Supreme Court's decision in Marshall v. Marshall (scope of the ?probate exception? to federal jurisdiction). The text also includes extensive references to the Restatement (Third) of Trusts and the Uniform Trust Code. The chapter on estate and gift taxation has been updated to reflect significant statutory changes, including the Economic Growth and Tax Relief Reconciliation Act of 2001. The organization and general approach, however, remain essentially unchanged from previous editions.

Download or read book A Proposal for Integrating the Income and Transfer Taxation of Trusts written by Robert T. Danforth and published by . This book was released on 1999 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Present law fails to integrate the income and transfer (i.e., estate and gift) taxation of trusts; a gratuitous transfer to a trust may be incomplete for income tax purposes (producing a so-called grantor trust, the income of which is taxed to the grantor), but complete for transfer tax purposes. Grantors create trusts that exploit two features of this tax law dichotomy: the grantor's income tax payments on trust income enhance the value of the trust by allowing it to appreciate in value income tax free; and present law provides no basis for subjecting this enhanced value to gift or estate taxation. The lack of income and transfer tax integration thus permits transfer tax avoidance. This Article proposes integrating the grantor trust rules with the rules for completed taxable gifts. The proposal would simplify the grantor trust rules and, in most cases, eliminate the use of grantor trust status as a means of transfer tax avoidance.

Download or read book A Major Tax Study California s tax structure v 2 Fees and licenses v 3 Conformity of state and personal income tax laws to federal personal income tax laws v 4 Sales tax v 5 Taxation of property v 6 Financing local government v 7 Some sources of revenue not used by California v 8 Insurance tax v 9 Excise taxes v 10 Taxation of corporate income v 11 Taxation of gratuitous transfers v 12 Final report written by California. Legislature. Assembly. Interim Committee on Revenue and Taxation and published by . This book was released on 1964 with total page 828 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Myth of Ownership written by Liam Murphy and published by Oxford University Press. This book was released on 2002-04-11 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a capitalist economy, taxes are the most important instrument by which the political system puts into practice a conception of economic and distributive justice. Taxes arouse strong passions, fueled not only by conflicts of economic self-interest, but by conflicting ideas of fairness. Taking as a guiding principle the conventional nature of private property, Murphy and Nagel show how taxes can only be evaluated as part of the overall system of property rights that they help to create. Justice or injustice in taxation, they argue, can only mean justice or injustice in the system of property rights and entitlements that result from a particular regime. Taking up ethical issues about individual liberty, interpersonal obligation, and both collective and personal responsibility, Murphy and Nagel force us to reconsider how our tax policy shapes our system of property rights.

Download or read book The Role of Federalism in Administering a National System of Taxation written by Robert T. Danforth and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is no federal general common law. State law creates legal interests and rights. The federal revenue acts designate what interests or rights, so created, shall be taxed. By erasing the careful line between state laws that purport to disclaim or exempt property interests after the fact, which the federal tax lien does not respect, and state laws' definition of property and property rights, which the federal tax lien does respect, the Courtጼreates a new federal common law of property. This contravenes the previously settled rule that the definition and scope of property is left to the States. This Article addresses the intersection between the federal tax laws and the state laws on which administration of the tax laws depend. Under our federal system of government, state laws generally prescribe the rights and duties arising from a transaction, while federal law determines the tax consequences that attend the state law rights and duties. The interplay of these two bodies of law generates multiple tensions. For example, to what extent must a federal court defer to the judgment of a state court concerning a state law matter with federal tax implications? To what extent are state-to-state variations in law respected by those charged with administering federal tax laws, given the countervailing desire for national uniformity in tax law application? To what extent should federal law discourage state legislative "gaming" of the tax system - i.e., state legislative efforts designed specifically to achieve federal tax advantages for its residents (or others availing themselves of favorable state law)? This Article considers these tensions by examining two contrasting legal developments. The first is the gaming phenomenon, which the Article examines specifically in the context of the federal tax laws concerning gratuitous transfers. The second is an apparent judicial trend toward a federal common law of property rights, with a focus on how that trend may affect the traditional primacy of state law concerning such matters. The Article begins with an overview of the traditional rules governing the interplay of state law and federal tax law. It then examines several recent state legislative efforts to craft laws producing favorable federal transfer tax and related income tax consequences. Next, the Article critically examines a trend in the federal courts away from the primacy of state law concerning property rights having federal tax implications. That is followed by a consideration of the extent to which the latter trend may undermine the tax advantages intended to accompany the recent state legislative developments. The Article observes that some of these developments may not withstand federal judicial scrutiny but criticizes this likely result as raising federalism concerns. Finally, the analysis concludes by asserting that public policy concerns about the gaming phenomenon should be addressed by Congress, not the federal courts.

Download or read book Cases and Materials on Gratuitous Transfers written by Elias Clark and published by West Academic Publishing. This book was released on 1999 with total page 986 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thoroughly revised and updated to reflect evolving case law and recent developments in the Restatement (Third) of Trusts and revisions to the Uniform Probate Code and other uniform laws. Furnishes ample material for a basic survey course on wills, trusts and decedents' estates, and for more advanced courses in the field. Includes surviving spouse's elective share and waiver of marital property rights; recent cases on the creation of trusts, exceptions to spendthrift protection, and remedies for breach of the fiduciary duty of loyalty; fiduciary investments and the prudent investor rule; and the Uniform Statutory Rule Against Perpetuities.