White Paper

Marital Deduction Formula Planning - Pecuniary vs. Fractional Dispositions, and Income Tax Matters

 
Understand the factors to consider between pecuniary and fractional dispositions when dealing with marital deductions. The author, T. James Lee, Esq., discusses nine different factors including flexibility – pro rata vs. non-pro rata; and the effect of interim appreciation and depreciation and the underlying strategy to maximize or protect credit shelter allocations or marital allocations. Mr. Lee reviews income tax matters in marital deduction formula planning. He discusses fiduciary accounting income based on provisions of the governing document and applicable local laws. Mr. Lee also covers what distributable net income (DNI) is used to determine; and what adjustments are used as DNI is tentative taxable income. He provides examples of assets of income in respect of a decedent (IRD) and covers tax treatment of IRD. Mr. Lee concludes this material with information on interim capital gains and losses and disallowed losses.

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T. James Lee, Esq. is a partner and director in the Phoenix office of Fennemore Craig, P.C. He practices in the areas of estate planning, business design and structuring, and commercial transactions, including tax planning, corporate, partnership, LLC, real estate, and international matters. Mr. Lee advises clients on planned giving methods, and establishing charitable trusts, foundations, and other tax-exempt organizations. He conducts regular seminars and workshops on estate planning, tax and probate topics.

Faculty

T. James Lee, Esq.

T. James Lee, Esq.

Fennemore Craig, P.C.

Agenda

Faculty

T. James Lee, Esq.

T. James Lee, Esq.

Fennemore Craig, P.C.

  • Partner and director in the Phoenix office of Fennemore Craig, P.C.
  • Practices in the areas of estate planning, business design and structuring, and commercial transactions, including tax planning, corporate, partnership, LLC, real estate, and international matters
  • Advises clients on planned giving methods, and establishing charitable trusts, foundations, and other tax-exempt organizations
  • Achieved the highest rating with Martindale-Hubbell Law Directory
  • Conducts regular seminars and workshops on estate planning, tax and probate topics
  • Writer of several articles related to estate planning
  • Member of ACTEC and the ABA, Taxation Committee, and listed in Best Lawyers
  • J.D. degree, with honors, Brigham Young University, J. Reuben Clark Law School; B.S. degree, Brigham Young University
  • Can be contacted at [email protected]

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