Wandering 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
Here is the Coronavirus
related research on SSRN
Feedback
Feedback to SSRN
If you need immediate assistance, call 877-SSRNHelp (877 777 6435) in the United States, or +1 212 448 2500 outside of the United States, 8:30AM to 6:00PM U.S. Eastern, Monday - Friday.
