Incomplete Transfer Law and Legal Definition
Incomplete transfer refers to a decedent’s inter vivos transfer that is not completed for federal estate-tax purpose. This is because the decedent retains significant powers over the property’s possession or enjoyment. Because, the transfer is incomplete, some or all of the property’s value will be included in the transferor’s gross estate.
In Estate of Connelly v. United States, 551 F.2d 545, 551 (3d Cir. N.J. 1977) an incomplete transfer requires that the decedent have had a beneficial interest in property of which he has not fully divested himself/herself.
