Incomplete Lifetime Transfers: Retained Beneficial Interests Under Sections 2036(a)(1) and 2037 (Portfolio 877)

Tax Management Portfolio No. 52, Incomplete Lifetime Transfers: Retained Beneficial Interests Under Sections 2036(a)(1) and 2037, is concerned with lifetime transfers with respect to which the transferor retains at death one or more specified beneficial interests in the property transferred during life. If such an interest is retained at the death of the transferor, one or both of §2036(a)(1) or §2037 may cause all or a portion of the transferred property to be included in the gross estate of the decedent.
The Portfolio first discusses §2036(a)(1), and relevant historical explanation is included in the analysis. The Portfolio identifies and discusses each of the requirements to invoke §2036(a)(1), and the exceptions also are discussed.
The Portfolio then discusses §2037, again including historical explanation as appropriate. The Portfolio identifies and discusses each of the requirements to invoke §2037, and the exceptions are also reviewed.
A variety of subjects are common to §§2036, 2037, and 2038. Sections 2036, 2037, and 2038 are covered in part in this Portfolio and in part in the companion Portfolio, 50 T.M., Incomplete Lifetime Transfers: Retained Powers Under Sections 2036(a)(2) and 2038, and the discussion of the common subjects is contained in Section V of the companion Portfolio.
This Portfolio may be cited as Lischer, 52 T.M., Incomplete Lifetime Transfers: Retained Beneficial Interests Under Sections 2036(a)(1) and 2037.



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