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This page contains a single entry by Associate Editor published on April 5, 2010 11:02 AM.

PLR 201013002: Gift and GSTT Consequences of POA Exercise was the previous entry in this blog.

PLR 201013027: No GSTT when New Trust Created from Exempt Trust and Distributions Made Therefrom is the next entry in this blog.

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PLR 201013017: Settlement Agreement Dividing Trusts - No GSTT, No Gift Tax

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Associate Editor
on April 5, 2010 TrackBacks (0) Comments (0)

In PLR 201013017, the IRS ruled that a settlement agreement dividing trusts will cause neither loss of GSTT exemption nor gift tax liability.  The Service notes that under 26.2601-1(b)(4)(i)(B), a court approved settlement of a bona fide issue regarding trust administration will not cause a GSTT exempt trust to lose its exempt status. 

 

 

Published by Jamie Delman, Associate Editor, Wealth Strategies Journal

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