Von Sanborn, a partner at Withers Bergman, and Constance Shields, a senior associate with the firm, write that to make an inter vivos transfer of assets, taxpayers need to determine the value of property that they would like to transfer, but even a certified appraisal can be significantly different from the IRS' opinion of value. Taxpayers, with varying success, have resorted to creative approaches including formula clauses, defined value clauses and charitable cap adjustment clauses in order to transfer the intended amount of property.
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Charitable Cap Adjustment Clauses: Best Suited for Inter Vivos Transfers
New York Law Journal
April 9, 2012
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