Download This PaperWandering Far Afield with Defined Value Clauses
6 Pages Posted: 2 Jun 2012
Date Written: May 31, 2012
Abstract
The Wandry decision extends the application of defined value clauses beyond those family limited partnership cases that transfer any excess value to a charity. In Wandry, the Tax Court reads Procter narrowly and ignores the fundamental rationale of Robinette.
Keywords: Defined Value Clauses, gift tax, family LLC, FLP, Wandry, Procter, Robinette
JEL Classification: K34, H20, H24
Suggested Citation: Suggested Citation
Gerzog, Wendy C., Wandering Far Afield with Defined Value Clauses (May 31, 2012). Tax Notes, Vol. 135, No. 9, 2012. Available at SSRN: https://ssrn.com/abstract=2071287
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