Billion Photos / Shutterstock 'Smaldino v. Commissioner': An Estate Planning Cautionary Tale
A recent Tax Court case emphasizes the need to ensure that the phases of transactions are completed properly, and certain formalities are observed in order for an estate planning strategy to be successful.
March 17, 2022 at 02:00 PM
6 minute read
A recent Tax Court case, Smaldino v. Commissioner, T.C. Memo. 2021-127 (Nov. 10, 2021), emphasizes the need to ensure that the phases of transactions are completed properly, and certain formalities are observed in order for an estate planning strategy to be successful. It is important to be careful even (and perhaps especially) in the case of emergency planning (i.e., planning because of health scares or impending tax law changes).
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