Recent PLRs

The IRS recently made two PLR decisions. In PLR 201202042, the decedent made a trust the beneficiary of his IRA. The IRS decided that the beneficiary trust and its subtrusts were valid see-through trusts. Additionally, the only individual’s life expectancy that needed to be considered when determining the designated beneficiary of the IRA was the oldest beneficiary of the subtrusts.

In PLR 201202019, the IRS gave a trust more time to elect to deduct charitable contributions in the tax year that preceded the year they were made.

See Andrew Hodes, Three Recent IRS Private Letter Rulings, Wealth Strategies, Jan. 18, 2012; See also IRS Written Determinations.

Special thanks to Jim Hillhouse (Professional Legal Marketing  (PLM, Inc.)) for bringing this article to my attention.