The Logic of the Transfer Taxes: A Guide to the Federal Taxation of Wealth Transfers (American Casebook Series)

The Logic of the Transfer Taxes: A Guide to the Federal Taxation of Wealth Transfers offers a broad survey of the federal transfer tax system. It thoroughly covers all of the fundamental rules of the gift, estate and generation-skipping transfer taxes and provides numerous illustrative examples. It also offers a glimpse of some popular tax planning techniques, including FLPs, GRATs and IDGTs, and the special valuation rules of Chapter 14. It is appropriate for use as a coursebook for a two- or three-credit JD or LLM course, or as a reference for newcomers to the area. The Third Edition incorporates changes to the law made by The One Big, Beautiful Bill Act, which makes permanent many of the temporary changes made by the Tax Cuts and Jobs Act of 2017. All of the illustrations are updated to reflect the new exclusion amounts. Since the debate over whether or not to tax wealth continues, the authors have expanded their analysis of this fundamental issue. The Third Edition also expands coverage of both the charitable and the marital deductions. In the charitable deduction section, there are several new illustrations of how split-interest gifts are currently treated and how they are used to achieve various estate planning goals. In the marital deduction section, th(more...)