SEPARATE SHARE RULES AVAILABLE TO ESTATES.

SEC. 1307. SEPARATE SHARE RULES AVAILABLE TO ESTATES. (a) In General.—Subsection (c) of section 663 (relating to separate shares treated as separate trusts) is amended— (1) by inserting before the last sentence the following new sentence: “Rules similar to the rules of the preceding provisions of this subsection shall apply to treat substantially separate and independent shares of different beneficiaries in an estate having more than 1 beneficiary as separate estates”, and (2) by inserting “or estates” after “trusts” in the last sentence. (b) Conforming Amendment.—The subsection heading of section 663(c) is amended by inserting “Estates or” before “Trusts”. (c) Effective Date.—The amendments made by this section shall apply to estates of decedents dying after the date of the enactment of this Act.