Estate and Gift Tax

2 Credit Hours

This course analyzes the rules of federal estate, gift, and generation-skipping taxation that affect transfers of property during life and at death. Among the topics addressed are the definition and determination of taxable gifts, exclusions, and deductions; determination of taxable estate of a decedent, including problems with lifetime transfers which are still included in the decedent's estate; valuation and basis issues; deductions from the taxable estate, including the marital and charitable deductions; and the incorporation into these areas of emphasis of the major tax law changes which occurred in 2001. A major objective is to cover practical planning suggestions associated with these rules, and to prepare the student for sophisticated courses in estate planning. PRE-REQUISITES/RESTRICTIONS: BUSCOM 690 Basic Federal Income Tax or enrollment in the Tax LLM program.