{"id":608575,"date":"2026-09-22T22:08:10","date_gmt":"2026-09-22T22:08:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/608575\/"},"modified":"2026-09-22T22:08:10","modified_gmt":"2026-09-22T22:08:10","slug":"tips-from-the-pros-lewis-shouldnt-be-a-loser","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/608575\/","title":{"rendered":"Tips From the Pros: Lewis Shouldn\u2019t be a Loser"},"content":{"rendered":"<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">McDougall v. Commissioner 1 involved the premature termination of a qualified terminable interest property (QTIP) trust by agreement among the remainder beneficiaries and the income beneficiary. Unresolved in McDougall was how properly to value those gifts. Lewis v. Comm\u2019r2 took up that question.<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">Facts Common to Both Cases<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">Bruce McDougall survived his wife, Clotilde, who died on Dec. 13, 2011. The value of her gross estate was $59.76 million. Clotilde\u2019s will established a residuary trust of which Bruce became the initial sole trustee. Bruce, as personal representative, timely filed a Form 706 United States Estate (and Generation-Skipping Transfer) Tax Return within which he effectively made an election under Internal Revenue Code Section 2&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"McDougall v. Commissioner 1 involved the premature termination of a qualified terminable interest property (QTIP) trust by agreement&hellip;\n","protected":false},"author":2,"featured_media":608576,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[138,246,111,139,69,244,245],"class_list":["post-608575","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-finance","tag-new-zealand","tag-newzealand","tag-nz","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/608575","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=608575"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/608575\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/608576"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=608575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=608575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=608575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}