Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

A Member of the Law Professor Blogs Network

Tuesday, July 1, 2014

How the Simmons Estate Saved $1.1 Billion in Estate Tax

Tax CutThe estate of Harold Simmons, a Texas Billionaire who died late last year, has saved $1.1 billion in estate tax. This was achieved by the executor valuing the estate by the “alternate valuation date” rather than by the value of the estate the day Simmons died. The difference that six months made was huge in the case of Simmons’ Estate.

See Matt Levine, Bloomberg News, Texas Billionaire Harold Simmons’ Heirs Save Some Money on Taxes, The Dallas Morning News, June 27, 2014.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.

http://lawprofessors.typepad.com/trusts_estates_prof/2014/07/how-the-simmons-estate-saved-11-billion-in-estate-tax.html

Estate Administration, Estate Tax | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef01a511d7e159970c

Listed below are links to weblogs that reference How the Simmons Estate Saved $1.1 Billion in Estate Tax:

Comments

Post a comment