What Is Rescission In Contracts Law? by Doron Eghbali on 10/20/2011 From legal perspective, rescission of a contract is distinguishable from cancellation of a contract. Rescission reverts the contract to the day it had not been signed as if the contract had not been made. In fact, the...more
PLR 201119003 No Gifts Triggered by Trust Transfers to Resolve Family Discord by Matthew Erskine on 6/2/2011 Erskine Summary: The IRS has privately ruled that transactions between a marital trust and a decedent's children from his first marriage to resolve discord between his surviving spouse and her stepchildren over the management...more