QPRT

In the 2001 Tax Act (known as EGTRRA), many changes were made to the estate tax system including increasing the exemption for this year to $3.5 million, lowering the top rate to 45%, eliminating the state death tax credit and culminating in…

In June 2008, the Treasury Department adopted certain final regulations with respect to the application of Code Sec. 2036(a)(1) and 2039 to so-called “grantor retained interest trusts,” which include grantor retained income trusts…

Many married couples are aware that the Federal gift tax law permits gifts made by a husband or wife to a third party to be considered for tax purposes as made one-half by each spouse.  This so-called "gift-splitting" rule under Section…