How to Take Advantage of Changes in Interest Rates For Gift and Estate Tax Savings
By EsqSocial Corporation 23/04/25
A recent Tax Court order highlights the gift and estate planning opportunities afforded when a senior family member makes loans to other family members. In Galli v. Commissioner, Docket Nos. 7003-20 and 7005-20, the Court had to decide whether a loan made by decedent to her son constituted a gift or partial gift, and also how the outstanding loan balance should be valued for estate tax purposes when the decedent died....
By: Bressler, Amery & Ross, P.C.