Improperly Drafted Charitable Remainder Unitrust (CRUT) Results in Loss of Estate Tax Charitable Deduction
December 7, 2007 | Roger McEowen
The United States Court of Appeals for the Seventh Circuit has affirmed the Tax Court and denied an estate's claimed charitable deduction for a nonqualified charitable remainder trust. In the process, the court also rejected the estate's argument that the deduction should be allowed based on substantial compliance with the tax code.
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