In Private Letter Ruling 202509010 (released Feb. 28, 2025), the Internal Revenue Service addressed the income, gift and generation-skipping tax (GST) consequences of the termination of a “GST ...

Life estates have received some attention recently as a way to resolve partial ownership of a property. Like any other estate planning tool, it needs to be considered in light of the objectives of the ...

For example, remaindermen can agree to the outright sale of the property, and a court can order the outright sale of the property.If either exception applies, it is usual to purchase a replacement ...

We had friends who grew up on a small apple orchard overlooking a lake. The kids helped the folks with the apple harvest, sold the fruit by the box to friends and family members, and pocketed the cash ...

I’m looking for help interpreting a life estate clause in a 2019 deed. It says: “Reserving to Louise a life estate in the above-said premises during the remainder of her lifetime and to receive her ...

We had friends who grew up on a small apple orchard overlooking a lake. The kids helped the folks with the apple harvest, sold the fruit by the box to family members and pocketed the cash for spending ...