Our results leave open the possibility that the level of inter vivos transfers
and inheritances differs between whites and blacks and plays a role in the wealth gap.
This burden is offset if owners of land give it to those who do not yet own it, either on death or through inter vivos transfers
However, in Bongard, (7) the Tax Court ruled that a decedent's inter vivos transfers
were includible in his estate under Sec.
1982), the Florida Supreme Court adopted the Carpenter rule for presumption of undue influence cases involving inter vivos transfers
Kaplow discusses the importance of different transfer motives and reconsiders the analysis in light of the importance of: human capital in intergenerational transfers; differences between inter vivos transfers
and bequests; differences between gifts to individuals and gifts to charitable institutions; differences among gifts to donees having varying relationships to the donor; and the possibility that transfers are not explained by maximizing behavior.
McGarry finds that parents do respond to the incentives in the tax law in this way; both the probability and amount of inter vivos transfers
are larger for parents whose estates will likely be taxed.
1990) (The court held that the surviving spouse's elective share did not extend to completed inter vivos transfers
of assets even if made with the specific intent to diminish or eliminate a surviving spouse's elective share.
For inter vivos transfers
, the valuation date is the date on which the property is transferred to the trust.
19] This cohort-level rejection of intergenerational altruism is very strongly confirmed by studies of the consumption and inter vivos transfers
of individual extended American families.
2518-2(c)(5) for some examples of inter vivos transfers
between spouses and to trusts.
Bequests differ from inter vivos transfers
in requiring advance planning, a formal legal document, and no opportunity for reciprocal benefit at a later date (Hurd 2009).
2011-209 (Turner I), the Tax Court originally held that the decedent's inter vivos transfers
of property to a family limited partnership (FLP) had to be included in his gross estate under Sec.