Estate and Gift Taxation

3 units

This course, which also includes a review of the Generation-Skipping Transfer Tax and related Federal income tax provisions, is intended to introduce the student to the basic concepts of the Federal wealth transfer tax scheme (or to serve as a refresher course for those who have been away from the topic for a few years). The course syllabus follows pertinent provisions of the Internal Revenue Code, covering the contents of Chapters 11, 12, 13 and 14, reviewing the statutory and regulatory provisions therein, cases applying those statutory provisions, and incorporating an analysis of how these rules apply to commonly used estate planning techniques. The goal of the course is to provide a basic understanding of the concepts involved in Federal wealth transfer taxation that will facilitate study in the other wealth transfer courses offered in the LLM program. The instructor currently believes that these basic concepts will retain validity and utility in 2011 and subsequent years, barring presently unforeseen developments (such as a complete repeal of the Federal wealth transfer taxation system as it now exists, a development which looks increasingly unlikely). [ JD students interested in taking this course must receive special permission, and will receive a letter grade, which will not calculate into their JD GPA.]