In this paper, I seek to reclaim this lost history of estate and gift taxation. While the ensuing analysis certainly will enable us to more fully appreciate the events of 1932 and evaluate the actions Congress took in that fateful year, my inquiry is not of mere historical interest. Rather, the choices made in 1932 have helped shape the fundamental structure of U.S. estate and gift taxation for nearly eight decades, including our modern estate and gift tax code. As such, understanding the events of 1932 can help us to understand why our estate and gift taxes operate the way they do as well as help inform future debate about the optimal structure of our wealth transfer tax system.
Making sense of illness, death and taxes through the eyes of Attorney and Author, Melinda Gustafson Gervasi
Saturday, August 8, 2009
History of the Estate and Gift Tax
1932 was the year Congress created the federal estate and gift tax. Ever wonder about it's history? If so, here is an social science article, the abstract technically, that offers the answer.
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Tax Issues
Melinda Gustafson Gervasi is a Madison attorney and author whose current practice focuses on estate planning and probate. She is committed to increasing the public’s understanding of estate planning and probate issues. In 2013 she released her first book, Middle Class Philanthropist where she illustrates how anyone can leave a legacy. Gustafson Gervasi Law Office, LLC, 5555 Odana Rd., Suite 205, Madison, WI 53719
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