The 7520 rate for June 2017 has remained at 2.4%.

The June 2017 Applicable Federal Interest Rates can be found here.

In a recent Notice, the Internal Revenue Service set forth some administrative procedures helping taxpayers recalculate gift and generation-skipping transfer tax exemption with respect to gifts and bequests made to or for the benefit of a same-sex spouse, or descendants of same-sex spouses before the Supreme Court Case United States v. Windsor was decided, even though the statute of limitation for claiming such exemption had expired.

Prior to the Windsor decision, the U.S. government (and by extension, the Internal Revenue Service) did not recognize marriages of same-sex couples. In the Windsor case, the estate of a decedent sought to claim the estate tax marital deduction for bequests to the decedent’s same-sex spouse (the couple was legally married in Canada and their marriage was recognized by their home state of New York prior to

Originally posted on BryanCaveFiduciaryLitigation.com.

Divorce should put an early end to the marriage vow of “’til death does us part.” But, when it comes to estate disputes, neither divorce nor death can part the path to the courthouse.  In In re: Estate of Boyd, the husband and wife may have suspected their marriage could end: after 15 years of marriage, they separated, reconciled, and then entered into a post-nuptial agreement.  The agreement provided how assets would be distributed if the parties were married at the time of either’s death and provided for distribution of assets if the parties separated or filed for divorce prior to death.  The latter provision is relevant.

Divorce should put an early end to the marriage vow of “’til death does us part.” But, when it comes to estate disputes, neither divorce nor death can part the path to the courthouse.  In In re: Estate of Boyd, the husband and wife may have suspected their marriage could end: after 15 years of marriage, they separated, reconciled, and then entered into a post-nuptial agreement.  The agreement provided how assets would be distributed if the parties were married at the time of either’s death and provided for distribution of assets if the parties separated or filed for divorce prior to death.  The latter provision is relevant.

The husband filed for divorce and died hours later.  The wife filed a petition for year’s support in the probate court.  Recall that “year’s support” is the unique and often

On Wednesday afternoon the White House again proposed eliminating the so-called death tax as part of its tax reform plan, but the details remain sparse.  When pressed for specifics Director Cohn simply stated that with the implementation of the administration’s tax plan, the death tax would disappear.

The phrase “death tax” entered the popular lexicon by way of tax reformers wanting to summarize and caricature the several parts of the Federal transfer tax system.