Bob Kaufman’s favorable Private Letter Ruling highlighted as a “harbinger of tax developments” in BNA’s Tax Management Memorandum.

Bob Kaufman’s favorable Private Letter Ruling involving the Generation-Skipping Transfer Tax was highlighted as a “harbinger of tax developments” in BNA’s Tax Management Memorandum. 

As part of a court-approved trust settlement, beneficiaries of a trust agreed to terminate it after the administration costs outweighed the value of the trust. The living beneficiaries – who were grandchildren and great-grandchildren of the deceased – shared the assets equally, and the IRS determined the trust could keep its GST-exempt status.