Peculiar Properties Included in the Gross Estate
Photo Credit: Hearst Castle California State Parks (grabbed from DailyMail.co.uk) The Estate Tax is arguably one of the easiest topics in Taxation. However, it has one part that is not so easy to digest because the provision of law seems a little too abstract to law students and lawyers alike. Even CPAs find this subtopic hard to comprehend. But as the title suggests, we are going dig deep into the peculiar properties included in the gross estate , the topic I am referring to as a bit too abstract... In General Section 85 provides that the gross estate includes all property of the decedent, real or personal, tangible or intangible, at the time of his death . The last clause is very important as that is the basis for the computation of the gross estate in regards to time. Whatever changes that happened after the death of the decedent are disregarded, so are the events taking place before his passing away. As to location, all properties wherever situated
