§ 2652.
(a)
Transferor
For purposes of this chapter—
(1)
In general
Except as provided in this subsection or section 2653(a), the term “transferor” means—
(A)
in the case of any property subject to the tax imposed by chapter 11, the decedent, and
(B)
in the case of any property subject to the tax imposed by chapter 12, the donor.
An individual shall be treated as transferring any property with respect to which such individual is the transferor.
(2)
Gift-splitting by married couples
(3)
Special election for qualified terminable interest property
In the case of—
(A)
any trust with respect to which a deduction is allowed to the decedent under section 2056 by reason of subsection (b)(7) thereof, and
(B)
any trust with respect to which a deduction to the donor spouse is allowed under section 2523 by reason of subsection (f) thereof,
the estate of the decedent or the donor spouse, as the case may be, may elect to treat all of the property in such trust for purposes of this chapter as if the election to be treated as qualified terminable interest property had not been made.
(c)
Interest
(1)
In general
A person has an interest in property held in trust if (at the time the determination is made) such person—
(A)
has a right (other than a future right) to receive income or corpus from the trust,
(B)
is a permissible current recipient of income or corpus from the trust and is not described in section 2055(a), or
(C)
is described in section 2055(a) and the trust is—
(i)
a charitable remainder annuity trust,
(ii)
a charitable remainder unitrust within the meaning of section 664, or
(iii)
a pooled income fund within the meaning of section 642(c)(5).
(2)
Certain interests disregarded
(3)
Certain support obligations disregarded
The fact that income or corpus of the trust may be used to satisfy an obligation of support arising under State law shall be disregarded in determining whether a person has an interest in the trust, if—
(A)
such use is discretionary, or
(B)
such use is pursuant to the provisions of any State law substantially equivalent to the Uniform Gifts to Minors Act.
(Added [Pub. L. 99–514, title XIV, § 1431(a)], Oct. 22, 1986, [100 Stat. 2726]; amended [Pub. L. 100–647, title I, § 1014(g)(6)], (8), (9), (14), (20), Nov. 10, 1988, [102 Stat. 3565–3567]; [Pub. L. 105–34, title XIII, § 1305(b)], Aug. 5, 1997, [111 Stat. 1040]; [Pub. L. 105–206, title VI, § 6013(a)(3)], (4)(A), July 22, 1998, [112 Stat. 819].)