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15 UCLA L. Rev. 1260 (1967-1968)
Tax Considerations during Probate

handle is hein.journals/uclalr15 and id is 1262 raw text is: TAX CONSIDERATIONS DURING PROBATE Jon J. Gallo* I. INTRODUCTION Although a carefully drawn estate plan, periodically reviewed, facilitates disposition of a testator's estate with minimal tax-induced dislocation, further tax savings are possible during the period of administration through careful coordination of fiduciary elections, deductions, and distributions. By integrating the daily administra- tion of the estate with the needs of beneficiaries and the realities of tax laws, the overall tax impact of death may be minimized. The pre-death estate planner must deal with probabilities; there is no certainty that the needs of beneficiaries and the assets of the testator will remain static until his death. Administration, on the other hand, presents the attorney with the opportunity to compensate for changes in assets and requirements of beneficiaries within the con- text of a relatively fixed estate composed of specific assets. This article deals with opportunities for overall tax savings during the course of administration. Many suggestions are applicable on both the state and federal levels. II. INITIAL CONSIDERATIONS IN ADMINISTRATION Effective post-mortem estate planning requires that counsel take action in the earliest phases of administration. One important factor-waiver of executor's fees-should be considered by the attorney even before qualification of the executor. Other factors, including determination of domicile, liquidity planning, renuncia- tion of bequests, and elections to take against the will, similarly require early analysis, although the actual decision in many cases may be postponed until late in administration. These considerations are dealt with in this section. * A.B., Occidental College, 1964; J.D., University of California, Los Angeles, 1967. Member, California Bar. The author would like to express his great indebtedness to Professor Herbert E. Schwartz, Acting Associate Professor of Law, University of California, Los Angeles, and Mr. Sidney J. Machtinger, Esq., Member, California Bar, for their assistance in the development of this article. 1260

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