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Vanderbilt Law Review

First Page

1025

Abstract

The proposals offered in this Note are meant to suggest that are turn to some form of the flexible, well understood charitable remainder trust of pre-1969 days would prove most satisfactory to the needs of donors, charities, and attorneys. With modifications similar to those recommended above, the familiar concept of traditional income and remainder interests could be reinstated, with its weaknesses eliminated. If reversion to an improved form of the old law is deemed unacceptable,it nevertheless appears that a revision of the tripartite structure of the 1969 Act is mandatory. The complexity and lack of flexibility inherent in the new requirements, together with the several instances in which the desired correlation between deduction and actual remainder value has not been attained, illustrate the necessity for technical improvements in the statute. The effectiveness of any legislation that contains the potential for restricting charitable contributions and thereby making the support of charitable organizations a governmental, rather than a private,function must be reappraised constantly. For these reasons, it is hoped that relief from the mechanical strictures governing charitable remainder trusts under the Tax Reform Act of 1969 soon will be forthcoming.

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