[EstGift] Call for Topics and Call to Arms for Subcommittees

[Mickey Davis]

All,

We're getting ready for some great discussions in Philadelphia.  If you have a topic you'd like to discuss, or hear discussed, please let me know ASAP.

In the meantime, I'm asking a few of our newly formed subcommittees to take on some recent developments and to prepare a brief report. In particular:

Gifts and Disclaimers Subcommittee (led by Clary Redd):  I'm hoping you can tell us about the recent CCM indicating that binding arbitration and in terrorem clauses may make a transfer ineligible for the annual exclusion. See a discussion here:
http://estgift.forumotion.com/t6-new-lisi-piece-on-annual-exclusion-with-interrorem-and-binding-arbitration-clause

706/709 Reporting Subcommittee (no leader yet): Would love to hear about the recent Knappe and Liftin cases denying reasonable cause penalty abatement for taxpayers that obtained erroneous tax advice from their advisors:  More here:
http://estgift.forumotion.com/t3-erroneous-advice-not-reasonable-cause

FLPs/LLCs/Valuation (led by Jerry Levine): Could we hear comments on TAM 201317010, where the IRS again refuses to follow the Mattie K. Carter Trust case  on material participation by a trustee?  This is an income tax (and now 3.8% Medicaid Tax) issue, but I think it is important for planning purposes.  A Forum discussion is here:
http://estgift.forumotion.com/t5-tam-201317010-material-participation-by-a-trust-to-avoid-38-tax-on-business-income-from-partnerships-or-s-corps

In addition to the above, I'm asking all members to put on your thinking caps and be ready to join in an open discussion on the following topic.  We want to hear YOUR ideas:

Should all-to-QTIP-Trust or all-to-Clayton-Trust be the new starting point for estate planning clients who may not have taxable estates?

Finally, I would love to have volunteers on the following:

*         Five new "DING Trust" rulings (PLRs 201310002- 201310006)

*         Like-kind exchange of a second-to-die for a new first-to-die life insurance policy (PLR 201304003)

*         Late GST allocations under 9100 relief provisions vs. the proposed late allocation regulations (PLR 201313003)

*         Denial of a charitable deductions - strict interpretation of the substantiation rules (Villareale v. Commissioner, T.C. Memo 2013-74)

Please let me know if you'd like to volunteer, or if you have other thoughts.

If you haven't joined a subcommittee yet, but would like to, please let me know.  Here is a list of current subcommittees:
GST
Chpt 14/SCINs/Sales to IDITs/Private Annuities
Marital Deduction
Debts and Admin Exp
FLPs and FLLCs/ Valuation
Portability
706/709 Reporting, Audits, Pymts, Deferral, Penalties
Gifts and Disclaimers
Legislation/Proposals Regulations/Guidance
State Death Taxes
Life Insurance
Decanting
String Statutes

Hope to see you in Philly!

Mickey R. Davis
Davis & Willms, PLLC
3555 Timmons Lane, Suite 1250
Houston, Texas 77027
(281) 786-4502 voice
(281) 742-2600 fax
mickey at daviswillms.com<mailto:mickey at daviswillms.com>

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