Section 2038

Prior interests 2046.

Section 2038. The value of the gross estate shall include the value of all property 1 transfers after june 22 1936. Section 2038 revocable transfers a in general. The amendment made by the first section of this act amending this section shall apply only with respect to estates of.

Proceeds of life insurance 2043. For purposes of this section and section 2038 any transfer from any portion of a trust during any period that such portion was treated under section 676 as owned by the decedent by reason of a power in the grantor determined without regard to section 672 e shall be treated as a transfer made directly by the decedent. For purposes of this section the power to alter amend revoke or terminate shall be considered to exist on the date of the decedent s death even though the exercise of the power is subject to a precedent giving of notice or even though the alteration amendment revocation or termination takes effect only on the expiration of a stated period after the exercise of the power whether or not on or before the date of the decedent s death notice has been given or the power has been exercised.

Section 2038 a 1 provides that the value of the gross estate shall include the value of all property to the extent of any interest therein of which the decedent has at any time made a transfer except in the case of a bona fide sale for adequate and full consideration in money or money s worth by trust or otherwise where the enjoyment. A decedent s gross estate includes under section 2038 the value of any interest in property transferred by the decedent whether in trust or otherwise if the enjoyment of the interest was subject at the date of the decedent s death to any change through the exercise of a power by the decedent to alter amend revoke or terminate or if the decedent relinquished such a power in contemplation of death. 2038 a 1 transfers.

Joint interests 2041. Certain property for which marital deduction was previously allowed 2045. For purposes of this section and section 2038 any transfer from any portion of a trust during any period that such portion was treated under section 676 as owned by the decedent by reason of a power in the grantor determined without regard to section 672 e shall be treated as a transfer made directly by the decedent.

For purposes of this section the power to alter amend revoke or terminate shall be considered to exist on the date of the decedent s death even though the exercise of the power is subject to a precedent giving of notice or even though the alteration amendment revocation or termination takes effect only on the expiration of a stated period after the exercise of the power whether or not on or before the date of the decedent s death notice has been given or the power has been exercised. Powers of appointment 2042. 2038 a in general the value of the gross estate shall include the value of all property i r c.

Section 2 of pub.