Federal Taxation of Wealth Transfers (3 hrs.)
Tax problems and consequences of gratuitous transfers of wealth during one's lifetime and at death are considered in this course. The law of estate, gift, and generation-skipping taxation is critically examined as it applies to outright gifts, trusts, life insurance, joint property, and future interests and powers. Considerable emphasis is given to transfer tax planning and implementing lifetime and testamentary dispositive arrangements. Particular attention is given to the attorney’s role in advising clients concerning alternative means for the gratuitous disposition of property. Prerequisite: Trusts and Estates or permission of instructor. Mr. Chisholm, Mr. Harrison.