In PLR 201024035, the IRS ruled that a qualified terminable interest property election is null and void for estate, gift, and generation-skipping transfer tax purposes.
See also QTIP Election Is Voided for Estate, Gift, GST Purposes, 2010 TNT 118-50, June 21, 2010.
Posted by Neil I. Rumbak, Associate Editor, Wealth Strategies Journal.

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