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Professor Mitchell M. Gans 40 posts 0 comments
Professor Mitchell M. Gans is the Steven A. Horowitz distinguished professor in taxation at Hofstra University School of Law, and an Adjunct Professor of Law at NYU Law School. He is an Academic Fellow at ACTEC and is the Academic Editor of the ACTEC Journal. Professor Gans is a leading scholar in the estate-and-gift tax area, teaching courses for the IRS on estate and gift tax and valuation methodology. He is a frequent lecturer for ALI-ABA, NYU, ACTEC, the ABA and other groups and has written numerous articles on estate tax planning topics, including a recent Leimberg Information Services article, co-authored with Jonathan Blattmachr, on the Proposed Section 2704 Regulations.
The Loper Bright case, decided by SCOTUS at the beginning of July, and which overruled its 1984 decision in Chevron v. Natural Resources Defense Council, Inc., represents a generation change in the importance of all Federal regulations from…
Supreme Court Holding In Connelly Requires that Redemption Agreements be Reconsidered
On June 6, 2024, the U.S. Supreme Court issued a unanimous opinion in a closely held business valuation case that will have significant impact on many family and closely held businesses. (Connelly v. United States, U.S., No. 23-146,…
Revenue Ruling 2023-2: What it Means and What You Might Do
Do assets in an irrevocable grantor trust that are not included in the settlor’s estate qualify for an income tax basis step up on the death of the grantor? In 2002, Jonathan Blattmachr and Professor Mitchell Gans authored an article…
New Clawback Proposed Regulations – What You Need to Know
On April 27, 2022, the IRS released proposed regulations that follow up on the initial “Anti-Clawback” regulations released in 2019. The proposed regulations provide guidance on how various estate planning strategies may be treated in…
The Van Hollen Gains at Death, Gift or Distribution from a Trust Bill (STEP): Your World May be…
Senator Chris Van Hollen and others have introduced a bill (called STEP) that would cause gain recognition on assets transferred by gift, by a distribution from a trust and upon death, subject to limited exceptions. It would be retroactive…
Snap, Crackle, Swap—More on the Substitution Power in Grantor Trusts
In late May, Paul Hood was joined on a webinar by Jonathan Blattmachr and Professor Mitchell Gans to extensively analyze the power to swap or substitute assets with a grantor trust. That presentation included more information than could be…
Defined Value Clauses: Ensuring No Adverse Surprises
With very limited exceptions, estate, gift and GST (called "wealth transfer") taxes are imposed on property's fair market value (FMV). Only cash and publicly traded securities have definite values for estate and gift tax purposes.
Snap, Crackle, Swap: The Substitution Power in Grantor Trusts
Grantor trusts are ubiquitous in estate planning, but significant uncertainty still exists amongst practitioners about the “right” powers to make the trust a grantor trust for income tax purposes.
Kaestner and State Income Taxation of Trusts
You are invited to listen to a complimentary in-depth discussion regarding the Kaestner opinion, where our three leading experts will provide explicit recommendations on structuring and administering trusts to avoid state tax on trust…
SPATs: A Flexible Asset Protection Alternative to DAPTs
This article discusses the "special power of appointment trust," designed to provide asset protection while providing a means for the grantor to benefit from the trust property, should the need arise.