Updated Friday, August 29, 2014 as of 8:07 AM ET

Wandry Case Adds Appeal to Large Family Gifts

The newly-passed ďAmerican Tax Relief Act of 2012" sets a permanent lifetime gift tax exemption of more than $5 million. Thus, itís likely many wealthy clients will continue to make large family gifts. If they are giving away hard-to-value assets, they might consider following a tactic from the Wandry case, decided by the Tax Court in 2012.

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