Omnibus Budget Reconciliation Act Of 1987: Implications For Estate Planning


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

Brian   LeBoeuf real estate agent
Brian LeBoeuf, Real Estate Agent EXP Realty, LLC

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.
 

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