This Estate and Gift Tax Rap column for Tax Notes is an extended discussion of the United States District Court (W.D. Pa.) decision in Estate of Palumbo v. U.S.. In that case, the court upheld a claimed estate tax charitable deduction for amounts passing to charity pursuant to a settlement of a...

George Steinbrenner was a lucky man. The longtime owner of the New York Yankees died on July 13, 2010, during the current one-year hiatus in the federal estate tax. The man whose management style earned him the nickname ‘‘The Boss'' may have pulled off the greatest play in baseball history....