Kansas Administrative Regulations

Regulation Number:92-2-69
Agency Title: KANSAS DEPARTMENT OF REVENUE
Article Title: Inheritance Taxes
Tax Type:Inheritance Tax
Brief Description:Transfers in contemplation of death.
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Body:

92-2-69 Transfers in contemplation of death. (a) Estates of decedents dying prior to January 1, 1983, shall include all property which the decedent transferred within one year prior to death, except property transferred pursuant to a bona fide sale for an adequate and full consideration in money or money's worth.
(b) Estates of decedents dying after December 31, 1982, shall include property which the decedent transferred within one year prior to death, except property transferred pursuant to a bona fide sale for an adequate and full consideration in money or money's worth, only when the donor retains control over the asset transferred, or when one or more items of property transferred to any transferee has an aggregate value of more than $10,000. The gross estate of a decedent dying after December 31, 1982, shall not include the value of any one or more lifetime gifts aggregating less than $10,000 of value nor the first $10,000 of one or more gifts of more than $10,000 of value where the decedent had made an absolute gift and had not retained any incidents of control or ownership. (Authorized by K.S.A. 79-1583; implementing K.S.A. 79-1549; effective May 1, 1986.)