Article:
Joseph M. Dodge, Retentions, Receipts, Transfers, and Accumulations of Income and Income Rights: Ruminations on the Post-Byrum Role of Estate Tax Sections 2036, 2037, 2039, and 2043(a), 58 TEXAS L. REV. 1 (1979).
 

Abstrac:
The Internal Revenue Code applies not only to property owned by the decedent at the time of his death, but also to property the decedent irrevocably transferred inter vivos in which he retained current enjoyment of the property. Irrevocable inter vivos transfers are subject to the federal gift tax at time of transfer, but retained interests are not subject to the gift tax. Thus, transfers subject to section 2036 are partially taxed (as gifts) at the time of their inter vivos transfers and fully taxed (as testamentary transfers) at the transferor’s death. Retained interests create a myriad of gift and estate tax issues. In this article, Prof. Dodge discusses these issues and proposes solutions for them.