Transfers Subject to Retained Right to Receive the Income or Designate the Income Beneficiary, 34 Rutgers Law Review 668 (1982)
Section 2036(a)(1) of the Internal Revenue Code' throws back into
the decedent's gross estate the value of transferred property if the
decedent retained the right to receive the income from the property
(a) for his life, (b) for any period not ascertainable without reference
to his death (e.g., quarterly, except for the quarter immediately preceding
his death), or (c) for any period that does not in fact end before
his death (e. g., for ten years, if he dies during this period). This
provision also applies if the decedent retained "possession or enjoyment"
of the transferred property, thus reaching property that does
not produce income in the conventional sense, such as a work of art
given to a donee subject to the donor's right to retain it in his home for
life or for either of the two other periods specified by section
2036(a) (1) .
Date of Authorship for this Version
Bittker, Boris I., "Transfers Subject to Retained Right to Receive the Income or Designate the Income Beneficiary" (1982). Faculty Scholarship Series. Paper 2304.