In this issue:
- Temporary payroll tax cut approved by Congress&signed into law by President
- IRS invites comments on tax treatment of trust decanting
- Power retained by trust grantor to substitute assets of equal value for Life Insurance does not (necessarily) cause inclusion
- Summary judgement denied due to reasonable reliance on Counsel
- New final regulations under IRC 2036
- Undiscounted value of partnership assets included in decedent’s gross estate
- IRS allows “Direct” transfer of IRA proceeds to beneficiary’s IRA following malfeasance by fiduciary
- Case in point: Maintaining flexibility in uncertain times