Definition of "Omnibus budget reconciliation act of 1987: implications for estate planning"
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:
- 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.
Have a question or comment? We're here to help.