To determine a decedent’s taxable estate, the Internal Revenue Code allows the decedent’s estate to utilize several deductions in various Code Sections, including Section 2053. The Treasury Regulations associated with Section 2053 were favorable to the taxpayer and contained broad language regarding the deductibility of claims and expenses. Recently, the Internal Revenue Service promulgated Proposed Treasury Regulations that would narrow the benefit of taking certain deductions to an estate. Read on to learn more.
Juliana R. O'Neill has spent her entire career helping Virginia and DC families. She began her practice by litigating family law cases of all kinds, from divorce to custody. Her background as a family law attorney has led her to be particularly sensitive to her estate planning clients' concerns when it comes to personal, family issues. Read More!
Latest posts by Juliana O'Neill (see all)
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