Trusts, Estates and the IRS – Regulatory and Case Law Developments

James V. Roberts (Attorney at Law, Glast, Phillips & Murray P.C.) has recently published his articles entitled Proposed Regs On 2-Percent Floor for Trusts & Estates, and Circuit Court FLP Case Makes Four, RPPT eREPORT (2007).

Here is a summary of these articles as posted on RPPT eREPORT.

Jim Roberts reports on two recent developments. First, he reports on new proposed IRS regulations that address the costs incurred by an estate or non-grantor trust and whether those expenses are subject to the 2% floor for miscellaneous itemized deductions. Second, Jim provides a short summary of the Bigelow case, in which the Ninth Circuit applies IRC § 2036 to family limited partnerships.