Life's Two Certainties: An Estate and Gift Consulting Case

Posted: 3 Mar 2014

See all articles by George Ryan Huston

George Ryan Huston

Texas Tech University - Area of Accounting

Janet McDonald Huston

University of South Florida

Date Written: March 3, 2014

Abstract

This case requires students to perform the work of a partner in a private wealth practice, presenting a client with a comprehensive estate and gift tax plan. Employing three separate fictitious clients representing people with varying estate planning needs, the case requires students to consider multiple issues, both tax and non-tax. Estate and gift tax planning is different from income tax planning because of the impact of specific non-tax factors, such as family dynamics and fears and unknowns related to death. To develop a comprehensive estate and gift tax plan for their client, students must incorporate course topics and apply them to their particular fact pattern. This case furthers students’ understanding of the interplay between estate and gift tax rules, develops their ability to generate relevant questions, exposes them to client dynamics, and cultivates critical thinking skills in the context of estate and gift tax planning.

Keywords: estate tax; gift tax; tax planning

Suggested Citation

Huston, George Ryan and Huston, Janet McDonald, Life's Two Certainties: An Estate and Gift Consulting Case (March 3, 2014). 2014 American Taxation Association Midyear Meeting, Available at SSRN: https://ssrn.com/abstract=2403979

George Ryan Huston (Contact Author)

Texas Tech University - Area of Accounting ( email )

P.O. Box 42101
Lubbock, TX 79409
United States

Janet McDonald Huston

University of South Florida ( email )

Tampa, FL 33620
United States
813-974-6744 (Phone)

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