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Elementary,High School,College,University,PHD
Teaching Since: | May 2017 |
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Questions Answered: | 20103 |
Tutorials Posted: | 20155 |
MBA, PHD
Phoniex
Jul-2007 - Jun-2012
Corportae Manager
ChevronTexaco Corporation
Feb-2009 - Nov-2016
For this assignment, I want to discuss an issue that is certainly very relevant today: the charitable deduction to the estate tax.
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Many people who are wealthy want to give some assets to charity, either in the will or during life, to minimize estate tax liability. Obviously, a big question is: what constitutes "charitable"? This can be a controversial issue.
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Here are 3 gifts:
- A gift to a trust to go to "paying the salaries of police officers and firefighters"Â
- A gift "to the government of the United States"Â
- A gift to a trust to be used to maintain the premises of a public cemeteryÂ
Please discuss whether each of these gifts qualifies for the estate tax charitable deduction. Please use case law and/or statutory law to establish your conclusion.
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Please also discuss any important limitations that may be applicable to each deduction.
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An IRAC-style essay is NOT necessary for each prong of this assignment.
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