Monday, October 28, 2013
Recently, the Tax Court in Estate of Helen A. Trombetta et al.v. Commissioner of Internal Revenue, ruled that a decedent continued to hold an interest in real property transferred to an annuity trust and the fair market value of the property and property transferred to a residence trust can be included in the gross estate.
See Elizabeth I. Liu Tax Court Determines Properties Fair Market Values Includable in Decedent's Gross Estate, Wealth Strategies, Oct. 26, 2013.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.