Testamentary Transfers. If either— (i) A term interest in trust is in- cluded in an individual’s gross estate solely by reason of section 2033, or (ii) A remainder interest in trust is included in an individual’s gross estate, and the interest was previously valued (when held by that individual) under § 25.2702–2(b)(1) or (c), the individual’s estate is entitled to a reduction in the individual’s adjusted taxable gifts in computing the Federal estate tax pay- able under section 2001. The amount of the reduction is determined under paragraph (b) of this section.
Appears in 4 contracts
Samples: Internal Revenue Service Regulations, Property Division Agreement, Property Conversion Agreement
