Future Lottery Payments Valued by Reference to the Gray Market

Business Valuation Update BVLaw
Legal and Court Case Update
August 6, 1999
estate and gift taxation

Estate of Thomas J. Shackleford (Shackleford II) v. United States of America
84 AFTR2d Par. 99-5244 (ED CA 1999)
US
Federal Court
California
United States District Court
Karlton

Summary

The U.S District Court for the Eastern District of California considered the value of future lottery payments.

See Also

Estate of Thomas J. Shackleford (Shackleford II) v. United States of America

The district court concluded that the decedent's remaining lottery payments should be valued by reference to the "gray market" even though the payments bore an absolute restriction on their transfer, instead of by reference to the annuity tables in 26 USC ...