Smaldino: Recent Tax Court Case Has Important Lessons on How to do Estate Planning Right!
In a recent Tax Court Case, Smaldino V. Commissioner Of Internal Revenue, T.C. Memo. 2021-127, November 10, 2021, has lots of important lessons on how to do an estate plan properly. These lessons are particularly important for those that did planning in a rush in 2020 and 2021 fearing dramatic changes in the tax laws. Even if those harsh changes aren’t enacted (few of them were included in the bill just passed by the House), if you are doing planning, you should heed the lessons provided in Smaldino.