The IRS issued proposed regulations that would apply to decedents
who died in 2010 and whose executors elected under Sec.
Beneficiaries of a cash-basis decedent
must claim all IRD when actually received unless the income was constructively received on the decedent
's date of death.
had a higher median return on assets than single decedents
in each age and size of estate class, which is expected, because our income measures include the income of both the decedent
and a spouse, while wealth is observed for the decedent
A personal representative should file form DR-312 for an estate of a decedent
who is not required to file IRS form 706 or 706-NA.
Twenty-three (48%) health facility decedents
and 9 (23%) community decedents
had used oral rehydration solution (ORS) at home before seeking care (Table 1).
There are no unpaid claims or demands against the Decedent
or the Decedents
estate, and the Department of Human Services furnished no federal or state benefits lo the Decedent
(or, if such benefits have been furnished, the Department of Human Services has been reimbursed in accordance with slate and federal laws and regulations).
Whether an office was maintained for purposes of conducting business by the decedent
, or the partnership, LLC or corporation and whether regular business hours were maintained by those operating the business.
The Tax Court then cited the following reasons indicating that the transfers were not bona fide sales: (1) The FLP failed to follow even the most basic partnership formalities--no bank account for the first two years, only one partnership meeting, direct payment of decedent
's personal expenses, disproportionate distributions, and the decedent
's financial dependence on FLP distributions; and (2) the decedent
was on both sides of the transaction, and there was no arm's-length bargaining.
In early August, the IRS issued guidance on the time and manner for making the election not to have estate tax apply to estates of decedents
who died in 2010 (Notice 2011-66).
This affidavit should be filed in the county in which the decedent
owned real estate.
Property the decedent
transferred during his or her lifetime to a qualified revocable trust (whether or not the trust makes a Sec.
Under Massachusetts law the decedent
was prohibited from assigning the lottery payments.