Discounted Assets and Funding Challenges in Estate Administration
By EsqSocial Corporation 03/05/21
Estate of Miriam M. Warne, T.C. Memo 2021-17 (February 18, 2021) (“Warne”), a recent Tax Court case, illustrates a potential mismatch between the value of an asset for estate tax purposes and the value of the asset for purposes of the marital or charitable deduction from estate tax. This mismatch can lead to a phantom loss of estate value for purposes of such deductions and cause an inadvertent estate tax surprise. Although this mismatch can be avoided, it requires those drafting specific...
By: Holland & Hart - Fiduciary Law Blog