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FROM THE OFFICE OF PUBLIC AFFAIRS To view or print the PDF content on this page, download the free Adobe® Acrobat® Reader®. March 30, 2005 Treasury and IRS Issue Guidance on Spousal Election WASHINGTON, DC -- The Treasury Department and Internal Revenue Service issued guidance today to provide a safe harbor procedure to avoid the disqualification of a charitable remainder trust by reason of the existence of a spousal right of election under state law. The existence of a surviving spouse's right to elect to receive a statutory share of the estate of the grantor of a charitable remainder trust has not been widely recognized by taxpayers as potentially disqualifying the trust. The safe harbor in the revenue procedure issued today provides a method of avoiding the adverse tax consequences arising from such a right under state law. The revenue procedure issued today also provides transition relief for trusts created before A problem exists under current law only if applicable state law gives the grantor's spouse the right to receive a statutory share of the grantor's estate that could be paid from the trust's assets. For trusts created on or after Trusts created before
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