Estate & Gift Taxation

Course Overview

This course focuses on the Federal tax consequences that arise when a person transfers property to a family member or other person as a lifetime gift or upon death.

The relevant law in this area is governed in the first instance by the Internal Revenue Code of 1986, as amended (the “Code”). These statutory provisions are supplemented by regulations and other administrative guidance issued by the U.S. Treasury Department and the Internal Revenue Service, as well as case law interpreting the statutes.

While the course concentrates on the relevant Code and regulatory provisions, we will use numerous examples to try to put these provisions into real-life context. In particular, we will discuss common planning techniques that are often used to minimize taxes with respect to intra-family property transfers. In addition, the course will address recent legislative changes to the estate & gift tax regime, and the policy issues underlying them. In this regard, we will briefly address the planning complexities raised by recent legislative activity.

The Federal Income Taxation and Trusts & Estates classes are not pre-requisites for this class. I will provide essential background material related to these areas as needed.