Curriculum Guide · Courses
Estate and Gift Tax
LL.M Course 833 (cross-listed) | 2 credit hours
This course is an overview of the federal estate and gift tax. Beginning with the gift tax, topics covered will include what constitutes a taxable gift, what types of property transfers are not gifts, and when a gift is treated as complete for Federal gift tax purposes. Students will explore both outright gifts and gifts in trust. The course will then turn to the estate tax, including what assets are included in a decedent's estate by virtue of "strings" the decedent retained on gifts made during lifetime. The gift and estate tax marital and charitable deductions will be covered, as well as the various gift and estate tax techniques often employed to reduce the tax on lifetime gifts and testamentary bequests. The matters covered in class are illustrated by examples drawn from current estate planning practice, recent cases and Internal Revenue Service rulings. Students will be evaluated based on a two-hour multiple-choice final exam.
Prerequisite: Tax I and Decedents' Estates or equivalent. This course is taught at an advanced level, and it is strongly recommended that students have completed Income Taxation of Trusts, Estates, and Beneficiaries and a J.D. course in Estate and Gift Tax, or possess equivalent practice experience.
This class will meet on 8/30 (Mandatory Intro Session) and from 9/29-11/1. Students pursuing the Estate Planning Certificate must attend a mandatory Introductory Session on 8/30 and take Income Taxation of Trusts, Estates and Beneficiaries (9/1-9/28), Estate and Gift Tax (9/29-11/1), and Special Topics in Transfer Tax (11/3-12/1). Students not pursuing the Certificate may take one or more of the classes, but also must attend the Intro Session even if they only take one class.