Hogan Quoted in Tax Notes Article

Andersen Managing Director Jim Hogan was quoted in Jonathan Curry’s article “Estate Planning Community Splits Over Consequences of Cahill" on Tax Notes online. The article discusses different views from estate planning experts on the consequences of the Estate of Cahill case.

In the excerpt, Hogan acknowledged that the Powell and Cahill cases suggest the IRS is looking for ways to apply section 2036(a)(2) to strategies beyond transfers through trusts or family limited partnerships, but said the cases primarily seem to indicate that estate tax inclusion will result if a decedent has the ability, in conjunction with others, to control who will possess or control transferred property. He said that post-Cahill, he would advise practitioners to be “very cautious in employing intergenerational split-dollar strategies in an effort to transfer wealth to a younger generation.”

Jim, a member of Andersen's US National Tax team, has over 35 years of legal and accounting experience and was most recently a Branch Chief in Internal Revenue Service’s (IRS) Office of the Chief Counsel. In that role, he had responsibility for all matters relating to estate, gift, and generation-skipping transfer tax issues. 

Tax Notes

pp. 563-565

July 23, 2018