Grandfather could marry grandson to avoid estate and generation-skipping tax?

http://blogs.law.harvard.edu/philg/2014/01/20/grandfather-could-marry-grandson-to-avoid-estate-and-generation-skipping-tax/

by soundsop • 13 years ago

53 16 13 years ago

blogs.law.harvard.edu

sixQuarks• 13 years ago

I can see this scenario becoming the plot of a feel-good comedy movie

troymc• 13 years ago

Here's a song for the soundtrack: https://www.youtube.com/watch?v=q0s5Kn9QXtU

tantalor• 13 years ago

molecule• 13 years ago

Other valid and antiquated instances of this loop-hole: marry great-granddaughter/-son.

maaku• 13 years ago

That's covered in the article (tl;dr: explicitly not allowed).

dllthomas3• 13 years ago

Where?

VladRussian2• 13 years ago

as far as i heard, Immigration, before issuing the marriage-based Green Card, may grill very seriously (various pretty intimate details, etc...) trying to determine whether the marriage is real. Don't think that IRS would do less when it comes to (multi)millions.

For example: http://marriage-and-immigrationlaw.blogspot.com/2007/09/must...

Pinckney• 13 years ago

Entering into a marriage to evade immigration laws specifically made a felony by statute. (8 U.S.C. § 1325).

http://www.law.cornell.edu/uscode/text/8/1325

dkokelley• 13 years ago

While this is an interesting side-effect of the expanding legal status of marriage, to my knowledge this 'wealth-passing' matter has been mostly solved by savvy accountants and tax attorneys. Dynasty Trusts generally provide a satisfactory mechanism for bypassing the GST.

See: http://en.wikipedia.org/wiki/Dynasty_trust

midas007• 13 years ago

This article begs the question: Would entering into a marriage to evade GST be against any specific law(s)?

Grandfather could marry grandson to avoid estate and generation-skipping tax?

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