Omnibus Budget Reconciliation Act Of 1987: Implications For Estate Planning
Legislation that provides for the inclusion in the estate of the decedent of lifetime transfers that involve a retained life interest in the following manner:
- decedent sells or gives to a family member a remainder interest in a business.
- decedent transfers more than 50% of appreciation interest into a general partnership but retains the limited partnership interest.
- decedent sells or gives to a family member more than 50% of common stock interest in a corporation but retains the preferred stockinterest in the corporation.
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