Omnibus Budget Reconciliation Act Of 1987: Implications For Estate Planning

Definition of "Omnibus budget reconciliation act of 1987: implications for estate planning"

Fannye Hunt real estate agent
Fannye Hunt, Real Estate Agent RE/MAX Of Lebanon County

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:

  1. decedent sells or gives to a family member a remainder interest in a business.
  2. decedent transfers more than 50% of appreciation interest into a general partnership but retains the limited partnership interest.
  3. 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.

Have a question or comment?
We're here to help.

*** Your email address will remain confidential.


Popular Insurance Terms

Popular Insurance Questions