On October 30, 2009, the IRS released Private Letter Ruling (PLR) 200944002, wherein the IRS privately ruled that a self-settled spendthrift trust, from the State of Alaska, was not includable in the settlor’s gross estate merely because the terms of the trust allowed the settlor to receive, in the discretion of the trustee, distributions of […]

For the month of December 2009 the Applicable Federal Rates (AFRs) are as follows: For this same period, the Section 7520 Rate will be 3.2%. To go directly to the IRS’ publication, please visit the following website: http://www.irs.gov/pub/irs-drop/rr-09-38.pdf. If you have further questions please contact us at 702-433-4455 or visit our homepage at https://jeffreyburr.com/.

On October 14, 2009, House Ways and Means Committee Chairman Charles Rangel (D-NY) indicated his committee was considering moving forward on estate tax reform. Then on October 22, 2009, Mr. Rangel said he was working on 2009 legislation to make estate tax legislation permanent. These legislative options will likely be discussed at the Democrats’ next […]