Issue was whether McLendon was sufficiently close to death on March 5, 1986, to require him to depart from the actuarial tables in valuing a remainder interest and related annuity.

The U.S .Court of Appeals for the Fifth Circuit concluded that the Tax Court erred when it valued interests in a partnership as partnership interests rather than assignee interests. It determined that state law established the objective criteria for trea...

The Tax Court determined that the decedent did not receive adequate and full consideration when she transferred real property to her children in exchange for a private annuity. The court determined that the taxpayer's accountant provided them with faulty...

The U.S. Court of Appeals for the Second Circuit reversed the Tax Court's valuation of payments from the Connecticut Lotto. The estate valued the payments based on the gray market, inclusive of a lack of marketability discount. The Tax Court ruled that th...

The Internal Revenue Service concluded in this technical advice that future lottery payments due to be received by a partnership should be valued by reference to the actuarial tables in section 20.2031-7(b)(6), and the present value of the payments should...

Issue is whether entire fee simple value of stock was part of gross estate even though the decedent had sold her remainder interest in the stock for its fair market value.

At issue is the value at decedent's date of death of her interest in a limited partnership.

At issue is the value of the remainder interest of the family corporation and the life and voting interest of the stock in the family corporations.

The U.S. District Court for the Eastern District of California considered whether unreceived lottery payments should be valued as a commercial annuity or as a private annuity including deviations from the annuity tables for lack of marketabilty. The cour...

This estate tax case concerns 19 annual installment payments of lottery winnings to a limited partnership in which the decedent held a 2% general partnership interest and a 48% limited partn...