White Paper

Marital Deduction Formula Planning - Pecuniary Amount and Fractional Share Formula

 
With the pecuniary version of marital formulas you typically want date of distribution funding. When there are assets in a decedent’s trust and those assets are used to satisfy the funding requirements of the marital deduction formula that is being used, what value is used to determine how much goes to each trust? Can you send appreciation over to one trust? Does it have to be divided on a reasonable pro rata basis between both trusts? If you can use date of distribution funding sometimes there is some leeway that the service can give you. This material discusses date of distribution funding as well as fairly representative funding – satisfaction of pecuniary amount, taking into account net appreciation and depreciation; and minimum worth funding – satisfaction of pecuniary amount, using the lesser of asset basis or FMV for valuation purposes. Our author, T. James Lee, Esq., also reviews the fractional share formula including pro rata funding and pick-and-choose funding.

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T. James Lee, Esq. is a partner and director in the Phoenix office of Fennemore Craig, P.C. He practices in the areas of estate planning, business design and structuring, and commercial transactions, including tax planning, corporate, partnership, LLC, real estate, and international matters. Mr. Lee advises clients on planned giving methods, and establishing charitable trusts, foundations, and other tax-exempt organizations. He conducts regular seminars and workshops on estate planning, tax and probate topics.

Faculty

T. James Lee, Esq.

T. James Lee, Esq.

Fennemore Craig, P.C.

Agenda

Faculty

T. James Lee, Esq.

T. James Lee, Esq.

Fennemore Craig, P.C.

  • Partner and director in the Phoenix office of Fennemore Craig, P.C.
  • Practices in the areas of estate planning, business design and structuring, and commercial transactions, including tax planning, corporate, partnership, LLC, real estate, and international matters
  • Advises clients on planned giving methods, and establishing charitable trusts, foundations, and other tax-exempt organizations
  • Achieved the highest rating with Martindale-Hubbell Law Directory
  • Conducts regular seminars and workshops on estate planning, tax and probate topics
  • Writer of several articles related to estate planning
  • Member of ACTEC and the ABA, Taxation Committee, and listed in Best Lawyers
  • J.D. degree, with honors, Brigham Young University, J. Reuben Clark Law School; B.S. degree, Brigham Young University
  • Can be contacted at [email protected]

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