Last December, while tax professionals were still grappling with the Tax Reform Act of 1986, Congress passed the Revenue Act of 1987. Some Christmas present!
One of the most significant casualties of the 1987 Act was the popular planning tool known as the estate "freeze." For decedents' estates originating after December 31, 1987, any "freeze" completed after December 17, 1987 will be covered by the new law There is no transition rule for transactions in progress.
Aucutt, Ronald D.
"Estate Freezes After the Revenue Act of 1987,"
Akron Tax Journal: Vol. 5
, Article 1.
Available at: https://ideaexchange.uakron.edu/akrontaxjournal/vol5/iss1/1