{"id":5655,"date":"2024-12-18T14:48:45","date_gmt":"2024-12-18T19:48:45","guid":{"rendered":"https:\/\/www.lindabury.com\/firm\/?p=5655"},"modified":"2024-12-18T14:48:45","modified_gmt":"2024-12-18T19:48:45","slug":"smaldino-v-commissioner-an-estate-planning-cautionary-tale-2","status":"publish","type":"post","link":"https:\/\/www.lindabury.com\/firm\/insights\/smaldino-v-commissioner-an-estate-planning-cautionary-tale-2.html","title":{"rendered":"&#8220;Smaldino v. Commissioner&#8221;: An Estate Planning Cautionary Tale"},"content":{"rendered":"<p>A recent Tax Court case,\u00a0<i>Smaldino v. Commissioner<\/i>, T.C. Memo. 2021-127 (Nov. 10, 2021), emphasizes the need to ensure that the phases of transactions are completed properly, and certain formalities are observed in order for an estate planning strategy to be successful. It is important to be careful even (and perhaps especially) in the case of emergency planning (i.e., planning because of health scares or impending tax law changes).<\/p>\n<p>In the\u00a0<i>Smaldino<\/i>\u00a0case, rushed planning caused a tax deficiency that may have been avoided with a team of advisors working together to ensure that Mr. and Mrs. Smaldino&#8217;s plan was properly implemented.<\/p>\n<p>Mr. and Mrs. Smaldino were married in 2006. Mr. Smaldino had six children from a prior marriage and 10 grandchildren. Mr. Smaldino was a CPA turned real estate investor, with a real estate portfolio worth approximately $80 million. Mrs. Smaldino held a master&#8217;s degree in economics and had worked in her husband&#8217;s business for many years.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.lindabury.com\/firm\/insights\/smaldino-v-commissioner-an-estate-planning-cautionary-tale-2.html\"  title=\"Continue Reading &#8220;Smaldino v. Commissioner&#8221;: An Estate Planning Cautionary Tale\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A recent Tax Court case,\u00a0Smaldino v. Commissioner, T.C. Memo. 2021-127 (Nov. 10, 2021), emphasizes the need to ensure that the phases of transactions are completed properly, and certain formalities are observed in order for an estate planning strategy to be successful. It is important to be careful even (and perhaps especially) in the case of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[65,343],"tags":[],"coauthors":[139],"class_list":["post-5655","post","type-post","status-publish","format-standard","hentry","category-insights","category-wills-trusts-estates-insights"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>&quot;Smaldino v. Commissioner&quot;: An Estate Planning Cautionary Tale &#8212; December 18, 2024 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events<\/title>\n<meta name=\"description\" content=\"A recent Tax Court case,\u00a0Smaldino v. Commissioner, T.C. Memo. 2021-127 (Nov. 10, 2021), emphasizes the need to ensure that the phases of transactions are\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lindabury.com\/firm\/insights\/smaldino-v-commissioner-an-estate-planning-cautionary-tale-2.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"&quot;Smaldino v. Commissioner&quot;: An Estate Planning Cautionary Tale &#8212; December 18, 2024 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events\" \/>\n<meta property=\"og:description\" content=\"A recent Tax Court case,\u00a0Smaldino v. Commissioner, T.C. Memo. 2021-127 (Nov. 10, 2021), emphasizes the need to ensure that the phases of transactions are\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lindabury.com\/firm\/insights\/smaldino-v-commissioner-an-estate-planning-cautionary-tale-2.html\" \/>\n<meta property=\"og:site_name\" content=\"Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-18T19:48:45+00:00\" \/>\n<meta name=\"author\" content=\"Lindabury, McCormick, Estabrook &amp; Cooper, P.C.\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lindabury, McCormick, Estabrook &amp; Cooper, P.C.\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"\"Smaldino v. 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