[WSBAPT] Gift from State QTIP Trust and impact

[Marcus Fry]

Anyone familiar with Treasury Regulation Sec. 25.2519-1 and gifting from a
QTIP?  My question deals with a State QTIP only (i.e., Decedent’s estate
was less than federal level, but more than State estate tax level).
Regulation 25.2519-1 states that a gift of a portion of the spouse’s
interest in a QTIP trust, results in a gift of the entire value of the
entire QTIP trust (except in certain circumstances, which include having
an estate smaller than the federal filing threshold).  However, when a
State doesn’t have any gift tax, and you are dealing with only a State
qualifying QTIP trust, is there any actual consequence from gifting from a
State QTIP trust?

 

 

Marcus J. Fry

Lyon, Weigand & Gustafson, P.S. 



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