Abstract

http://ssrn.com/abstract=1414520
 


 



Estate Tax on Gift Tax: The Liability Conundrum


Bridget J. Crawford


Pace University School of Law

Jonathan G. Blattmachr


Milbank, Tweed, Hadley & McCloy LLP

June 8, 2009

Tax Notes, pp. 1264-1268, June 8, 2009

Abstract:     
This article addresses the specific question of who -- as between the beneficiaries of the estate and the lifetime donees -- will bear responsibility for estate tax generated with respect to gift tax included in the decedent’s gross estate, absent a specific provision to the contrary. Although some case law suggests that the donee of the lifetime transfer should pay the taxes, this result is at odds with the Uniform Estate Tax Apportionment Act (UETAA). The UETAA’s approach to this issue is more administratively convenient and thus represents a more sensible approach. Because the UETAA has not been adopted widely, we offer a simple form of agreement that can be adapted for use by any donor who wishes to change the statutory default rules about the payment of additional estate tax liabilities.

Number of Pages in PDF File: 4

Keywords: estate tax, gift tax, wills, tax apportionment, apportionment clause, Uniform Estate Tax Apportionment Act

JEL Classification: K34, K11, K34

Accepted Paper Series


Download This Paper

Date posted: June 8, 2009 ; Last revised: June 12, 2009

Suggested Citation

Crawford, Bridget J. and Blattmachr, Jonathan G., Estate Tax on Gift Tax: The Liability Conundrum (June 8, 2009). Tax Notes, pp. 1264-1268, June 8, 2009. Available at SSRN: http://ssrn.com/abstract=1414520

Contact Information

Bridget J. Crawford (Contact Author)
Pace University School of Law ( email )
78 North Broadway
White Plains, NY 10603
United States
Jonathan G. Blattmachr
Milbank, Tweed, Hadley & McCloy LLP ( email )
1 Chase Manhattan Plaza
New York, NY 10005
United States
212-530-5066 (Phone)
Feedback to SSRN


Paper statistics
Abstract Views: 1,117
Downloads: 157
Download Rank: 109,754

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo7 in 0.203 seconds