Interest From Dual-Life Annuity Qualifies Under Sec. 2702

Business Valuation Update BVLaw
Legal and Court Case Update
February 18, 2003
8111 Legal Services
estate and gift taxation

Patricia Schott v. CIR (Schott II)
No. 02-70007 (9th Cir. 2003)
Federal Court
9th Circuit
United States Court of Appeals


the U.S. Court of Appeals for the 9th Circuit determined whether interest from grantor retained annuity trusts (GRATs) qualified as dual-life annuities for gift tax purposes.

See Also

Patricia Schott v. CIR (Schott II)

The U.S Court of Appeals for the Ninth Circuit reversed the Tax Court and concluded that grantor retained annuity trusts established for the life of the grantor and the life of the grantor’s spouse, if the grantor dies before the expiration of the GRAT, w ...