About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline

LOG IN
LOG IN


Case Citations [1] (April 2022 - August 2022)

handle is hein.ali/respdt9962 and id is 1 raw text is: THE AMERICAN LAW INSTITUTE PROPERTY 2D: DONATIVE TRANSFERS Introduction C.A.6, 2022. Intro. cit. in ftn. to conc. op. Taxpayer challenged a regulation providing that, in order to be deductible, a donation of a conservation easement to a charitable organization had to be granted in perpetuity or, upon extinguishment of the easement, the organization had to receive as proceeds a fair market value that was at least equal to the proportional value that the easement bore to the value of the entire property at the time of the gift. The Tax Court concluded that the regulation was valid, and this court affirmed. The concurring opinion cited Restatement Second of Property: Donative Transfers in noting that it was unclear why the organization would be entitled to a proportion of the value of any post-donation improvements by taxpayer under Restatement of Property § 508, which described the prevailing rules governing easements. Oakbrook Land Holdings, LLC v. Commissioner of Internal Revenue, 28 F.4th 700, 725. DIVISION II. POWERS OF APPOINTMENT, CLASS GIFTS, AND RELATED MATTERS PART V. POWERS OF APPOINTMENT CHAPTER 11. DEFINITIONS § 11.2 Terms Identifying Various Persons Related to Power of Appointment Conn.Super.2021. Subsecs. (1) and (2) quot. in ftn. After the death of decedent, who, prior to his death, created a charitable trust and executed a will that exercised his nongeneral testamentary power of appointment under various family trusts to fund the charitable trust, decedent's sister and co-trustees of the family trusts filed a petition for construction of the trusts and confirmation of the validity of decedent's actions. The probate court ruled that decedent's actions were valid and effective. This court affirmed. The court cited Restatement Second of Property: Donative Transfers § 11.2 in explaining that a donor was a person who brought a power of appointment into existence and a donee was the powerholder; here, settlors of the family trusts were the donors and decedent was the donee. Benjamin v. Corasaniti, 267 A.3d 108, 115. § 11.4 General Power and Non-general Power Conn.Super.2021. Quot. in case quot. in sup. After the death of decedent, who, prior to his death, created a charitable trust and executed a will that exercised his nongeneral testamentary power of appointment under various family trusts to fund the charitable trust, decedent's sister and co-trustees of the family trusts filed a petition for construction of the trusts and confirmation of the validity of COPYRIGHT C2022 By THE AMERICAN LAW INSTITUTE All rights reserved Printed in the United States of America For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination.