Russell Stanaland
Spring 2016
(415) 781-4000
russ@sfcpalaw.com
ESTATE AND GIFT TAXATION
Syllabus
COURSE DESCRIPTION:
Estate and Gift Taxation covers the federal tax on property transfers both at death and
inter vivos.
REQUIRED COURSE MATERIALS:
Internal Revenue Code and Regs.
Student Abridged Edition of Stephens, Maxfield, Lind, & Calfee, Federal Estate & Gift
Taxation (9th Ed. Thomson Reuters/WG&L 2013) ISBN 978-07913-8652-1 (the “Treatise”).
Study Problems for the Treatise, Stephens, Lind & Calfee (Thomson Reuters/WG&L
2013) ISBN 978-0-7913-8649-1 (the “Problems”).
EXAMINATION AND GRADING:
Your grade will be based on an anonymously graded examination that will be between
two and three hours long. For the exam, you will be allowed to use the course materials and
anything prepared by you (including class notes). A simple calculator may be used. I reserve
the right to raise or lower your grade by one grade (e.g., from a B to a B+ or B-) for class
participation and attendance.
OFFICE:
My office is at 180 Montgomery, Suite 1850. I can also be available for questions before
and after class.
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Class 1
Introduction and Overview
Treatise ¶¶ 1.01 through 1.04
Code §§ 691(a)(1); 1014; 1015; 2031(a); 2033.
Reg. §§ 20.2031-1; 20.2033-1.
Problems 1 and 2
Class 2
Transfers within Three Years of Death and With Retained Life Estate
Treatise ¶¶4.02[4][g]; 4.07 (omit [2][b][ii], [2][d] and [4]); 4.08 intro. paragraph, [1][a], [2] –
[4], and [8] intro. paragraphs; 4.15[2].
Code §§ 2035(a), (b) and (d); 2036(a); 2043(a).
Reg. §§ 20.2036-1(a) – (b)(2) and (c)(1)(i); 20.2043-1(a).
Skim Code §§ 2042.
Problem 3
Problem 4 Questions (1)-(4)
Class 3
Transfers With Other Retained Life Estates and With Retained Reversions
Treatise ¶¶ 4.08[5] – [6][c]; [7] intro. paragraph, [a] and [d]; [8][a];
4.09[1], [4][c] and [6].
Code § 2037.
Reg. §§ 20.2036-1(b)(3); 20.2037-1(a)-(e) (look carefully at Reg. Examples).
Skim Code §§ 2035(a) and (d); 2036(a); 2043(a).
Problem 4 Questions (5)-(9)
Problem 5 Questions (1) – (3)(f)
Class 4
Inclusion of Revocable Transfers, Annuities and Joint Interests
Treatise ¶¶ 4.07[2][b][ii]; 4.10[10]; 4.11 (omit [2] and [6]);
4.12 (omit [8], [9] and [11]).
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Code §§ 2035(e); 2038 (omit (a)(2)); 2039; 2040; 2056(d)(l)(B).
Reg. §§ 20.2038-1(a) and (b); 20.2039-1(a) - (b)(l) and (c); 20.2040-1.
Skim Code §§ 691(a)(1); 1014(a); 2035(a); 2036(a)(2).
Problem 6
Problem 7 Question (1)
Problem 8 Questions (1)(a) - (d), (3) and (5)
Class 5
Inclusion of Revocable Transfers, Annuities and Joint Interests
Treatise ¶¶ 4.07[2][b][ii]; 4.10[10]; 4.11 (omit [2] and [6]); 4.12 (omit [8], [9] and [11]).
Code §§ 2035(e); 2038 (omit (a)(2)); 2039; 2040; 2056(d)(l)(B).
Reg. §§ 20.2038-1(a) and (b); 20.2039-1(a) - (b)(l) and (c); 20.2040-1.
Problem 6
Problem 7 (Question (1)
Problem 8 (Questions (1)(a) -(d), (3) and (5)
Class 6
Inclusion of Life Insurance Proceeds; Valuation
Treatise ¶¶ l.02[2][c]; 4.02 (omit [2][b], [6][c] – [e] and [7]); 4.03[1] and [3]; 4.14 (omit [3][b],
[4][d], [5][b], [6] and [10]).
Code §§ 2031(a) – (b); 2032 (omit (b)); 2042; 2703.
Reg. §§ 20.2031-8(a); Reg. §§ 20.2031-l(b);
20.2032-1(a) and (f); 20.2042-1.
Code §§ 1014(a), (b)(6) and (c); 2035(a); 6662(a) - (b) and (g) – (h);
7520(a);
Reg. § 25.2703-1(a) and (b).
Problem 10 omit Question (6)
Problem 11 Questions (2) and (4); simply skim Question (3)
Class 7
Taxable Estate; Deductions for Funeral and Administration Costs, Claims,
Mortgages, Losses, and Charitable Transfers
Treatise ¶¶ 5.01; 5.02; 5.03 (omit [4][a][ii] and [iii], [b][ii] and [6][b]); 5.05 (omit [1][c], [2][b],
[7][c] – [e] and [8]).
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Code §§ 642(g); 170(f)(3); 664(d)(1) – (3) and (e); 2032(b); 2043(b);
2051; 2053 (omit (d)); 2054; 2055(a) - (c) and (e)(2).
Code §§ 642(c)(5); 2518.
Reg. §§ 1.642(g); 20.2032-1(g); 20.2053-1(a); 20.2052-2; 20.2053-3(a);
20.2053-4(a); 20.2053-7; 20.2053-8(a); 20.2054-1.
Problem 12 Questions (1) – (4)
Problem 13 omit Question (5)
Class 8
The Marital Deduction
Treatise ¶¶ 4.16; 5.06 [1], [2], [3][d] and [h], [7] (omit [d] and [e]) and [8]
(omit [c], [d][iv] and [f]); 8.07 (omit [3]).
Code §§ 2044; 2056 (omit (b)(2), (4), (6), (9) and (d)); 2207A(a); 2519.
Reg. §§ 20.2056(a)-(1); 20.2056(b)-1(a) – (d); 20.2056(b)-3(a) and (d) Ex. (4); 20.2056(b)-5(a);
20.2056(b)-7(a), (b)(2) and (d).
Problem 14 Questions (1)-(8); omit (4)(c)
Class 9
Non-Citizen Spouses; Unified Credit, Portability and Tax Calculation
Treatise ¶¶ 1.02[5][a]; 3.01; 3.02; 5.06[9]; 5.07[1] and [5].
Code §§ 2010; 2056(d) (omit (d)(3) and (5)); 6018; 6075(a).
Reg. § 20.2056A-1(a) and (b).
Code §§ 2001(a)-(c); 2056A.
Reg. §§ 20.2010-1T(d); 20.2010-2T; 20.2010-3T.
Problem 14 Questions (10)-(12)
Problem 15 Question (1)
Class 10
Gift Tax Introduction; Section 2702 Special Valuation
Treatise ¶¶ 9.01; 9.02 first three paragraphs and [4]; 10.01 (omit [5][e],
[10] and [11]); Treatise 19.03 (omit [2][c] and [4]).
Code §§ 2501(a)(1); 2502(a) and (c); 2503(a); 2505(a); 2511(a);
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2702 (omit (c)).
Reg. §§ 25.2511-1(a); 25.2511-1(a), (c)(1) and (g)(1); 25.2511-2(a) – (g);
25.2702-1(a)-(b)(2); 25.2702-2(a)-(b)(2); 25.2702-5(a)(1).
Problem 16 (Omit Question (3))
Problem 17 (Questions (1) (omit (g)), (3) and (6))
Class 11
Gift Tax Valuation; Powers of Appointment; Disclaimers
Treatise ¶¶ 10.02 (omit [1][b], [2][b], [5][b]-[d] and [6][b] and [c]);
10.04 (omit [3] and [5]); ¶ 10.07.
Code §§ 2503(e); 2512; 2514(b), (c) and (e); 2518.
Reg. §§ 20.2041-3(d) (omit (d)(6)); 25.2512-1; 25.2512-8; 25.2514-1(a) - (c)(2); 25.25143(c)(4); 25.2518-2(a)-(c)(3)(i), (c)(5) Exs. 1 and 2, (d)(1), (e)(2) and (5) Exs. 4 and 5; 25.25183(b) and (d) Ex. 2.
Problem 18 (Omit Question (7))
Problem 19
Problem 20 Questions (3) and (5)
Class 12
Gift Tax Annual Exclusion; Section 529 Plans
Treatise ¶¶ 9.04[1][a] – [b][i] and [c] – [2].
Code §§ 529(c)(2), (4) and (5); 2503(a) - (c).
Reg. §§ 25.2503-4; 25.2503-6.
Problem 21 omit Question (7)
Class 13
Deductions, Split Gifts and Gift Tax Calculations; Gift Tax Summary; Estate
Tax Calculations
Treatise ¶¶ 2.01 (omit [4]); 8.07[3], 9.03; 9.06; 10.03; 10.08; 11.01;
11.02[1] (omit [a] and [d]); 11.03[1] and [5]; 11.04.
Applicable Credit Amount Tables in the Appendix to the Problems.
Code §§ 2001 (omit (d) – (f)); 2010; 2207A(b); 2502; 2505; 2513; 2519;
2522(a) and (c)(2); 2523; 2524; 6019; 6075(b);
Reg. §§ 25.2513-1; 25.2519-l(a), (c)(1) and (4).
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Problem 22 (Questions (1) – (5); simply skim (4)(g) and (h))
Problem 23
Problem 24 (Questions (1) and (2)
Class 14
Generation-Skipping Transfer Tax Overview; Course and Exam Review
Treatise ¶¶ 1.04; 12.01; 12.02; 12.03[1]; 13.01[1]; 13.02 [2][a], [3][a] and [4][a];
13.03 (omit [3][a] – [4]); 14.01; 14.05[1]; 15.01; 15.02; 15.03[1], [3][a], [4][a] and [b] (first
paragraph); 16.01; 16.02[1]; 17.01; 17.02[1][a] - [c][i] and [3][a] - [b]; 18.05 (omit [2][b][i]-[iii],
[d] and [e]).
Review.
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