Drafting the Estate Plan: Law and Forms does not merely compile the transfer tax and trust laws, it explains how to use or work with and apply those laws to meet client needs. This two-volume resource "takes the next step" by pointing out the pitfalls and opportunities created by each law, rule and case discussed and explains not only how to implement strategies, but also why and when to use them.
In Volume 2 of Drafting the Estate Plan, the authors provide user-friendly forms with detailed annotations that provide practical information and advice regarding the meaning and consequences of the provisions and various alternatives, the purposes of which may not be readily apparent. These forms allow users to convert the knowledge and advice imparted in the explanatory text of Volume 1 into actual practice with great ease. Thus, both the novice as well as the experienced practitioner have the tools they need to practice in the estate planning field. In addition, the forms (with and without annotations) are provided on a free companion CD-ROM that practitioners can immediately put to use in drafting estate plans.
Topics and Contents
VOLUME 1
1 Overview of the Transfer Tax System
2 The Estate Tax
3 The Gift Tax
4 Transfer Tax Valuation
5 The Generation-Skipping Transfer Tax
6 Income Taxation of Trusts and Estates
7 Planning for Gifts: Annual Exclusion Gifts
8 Planning for the Applicable Credit Amount
9 The Marital Deduction
10 Post-Mortem Planning: Disclaimers
11 Investment-Driven Estate Planning
12 Planning for Life Insurance
13 Planning for Education and Medical Costs
14 Retirement Planning
15 Planning for Employer Stock and Stock Options
16 Planning for Business Interests
17 Family Limited Partnerships and Limited Liability Companies
18 Charitable Giving
19 Fiduciary Liability and Ethical Issues
Appendix a Summary of Estate, Gift and GST Tax Changes Under EGTRRA
Appendix B Qualified Subchapter S Trust Election Under Section 1361(D)(2)
Appendix C Trustee Election for Electing Small Business Trust Under Section 1361(E)(3)
Table of Internal Revenue Code Sections
Table of Treasury Regulations
Table of Revenue Rulings, Procedures, Notices, Letter Rulings, and Other Rulings
Table of Cases
Index
VOLUME 2
Form 1 Pour-Over Will of John Doe
Form 2 First Codicil to Will of John Doe
Form 3 John Doe Revocable Trust
Form 4 Fractional Formulas for Revocable Trust
Form 5 Pecuniary Marital Formulas for Revocable Trust
Form 6 First [Amendment To] [Restatement Of] John Doe Revocable Trust
Form 7 Will With Trusts
Form 8 Fractional Formulas for Will
Form 9 Pecuniary Marital Formulas for Will
Form 10 Apportionment Tax Clause
Form 11 Direction to Create Foundation Upon Settlor's Death
Form 12 Distribution Provisions for Guardian of Minor Children
Form 13 Disposition of Literary and Artistic Rights
Form 14 Selection of Personal Property
Form 15 Qualified Domestic Trust
Form 16 John Doe Gift Trust
Form 17 John Doe Annuity Trust
Form 18 Annuity Trust Provisions Allowing Creation of New Annuity Trusts Under the Same Agreement
Form 19 John Doe Residence Trust
Form 20 Doe Minor's Trust
Form 21 Creation of [Grandchild] [Minor] Trust for Jimmy Doe
Form 22 Doe Grandchild Trusts
Form 23 John Doe Charitable Lead Trust
Form 24 Doe Health and Education Exclusion Trust (HEET)
Form 25 John Doe Charitable Remainder Trust
Form 26 Family Limited Partnership
Form 27 Limited Liability Company Agreement
Form 28 Ultimate Contingent Beneficiaries - Private Foundation
Form 29 Ultimate Contingent Beneficiaries - Siblings of Settlor and Spouse
Form 30 Ultimate Contingent Beneficiaries - Settlor's and Spouse's Nieces and Nephews
Form 31Ultimate Contingent Beneficiaries - 50/50 to Settlor's and Spouse's Heirs
Form 32 Share Language for Division Among Ultimate Contingent Beneficiaries
Form 33 Independent Trustee Distribution Provision
Form 34 "Administrative Trustee" Provisions of Delaware Situs Trusts
Form 35 Removal of Investment Advisors for Cause
Form 36 Indemnification Provision for Fiduciaries
Form 37 Plan of Successor Trustees for the Doe Gift Trust
Form 38 Resignation and Release of Trustee
Form 39 Exclusion of Withdrawal Rights Over Gift Trust
Form 40 Notice of Withdrawal
Form 41 Grant of Withdrawal Rights Over Gift Trust
Form 42 Exercise of Power of Appointment
Form 43 Assignment of Property to the John Doe Revocable Trust
Form 44 Nominee Agreement
Form 45 Net Gift Provision for Trust
Form 46 Election Pursuant to IRC §2632(C)(5)(A)
Form 47 Secured Promissory Note
Form 48 Promissory Note
Form 49 Attachment to Form 1041 - Irc §645 Election
Form 50 Voting Trust Agreement
Form 51 Voting Trust Certificate
Form 52 Voting Trust Assignment
Form 53 Voting Trust Joinder
Form 54 Certification of Trust
Form 55 Inflation Adjustment Provision for Fixed Dollar Distribution Provisions
Form 56 Percentage Limitations on Exercise of Limited Power of Appointment
Form 57 Distribution Provisions for Beneficiary With Drug Problems
Form 58 Trustee Distribution Guidelines
About the Authors
Drafting the Estate Plan: Law and Forms (with CD)
David A. Handler is a partner in the Trusts and Estates Practice Group of Kirkland & Ellis LLP and works out of the Chicago office. Mr. Handler is a graduate of the Northwestern University School of Law and a graduate with highest honors of the University of Illinois College of Commerce.
He is a frequent speaker on estate planning matters, including seminars for the American Bar Association, Cannon Financial Institute, the American Bankers Association National Graduate Trust School, and local estate planning councils. Mr. Handler has been the chair of the Estate Planning and Taxation Committee of Trusts & Estates Magazine and an Editorial Advisory Board Member. He is a member of the Chicago Estate Planning Council and the Professional Advisory Committee of the Chicago Community Trust.
He is a frequent contributor of articles in various estate planning and taxation journals, magazines and newsletters, including Trusts & Estates Magazine, Estate Planning Magazine, Journal of Taxation, The Chase Journal, and Estate Planner's Alert. Mr. Handler is frequently interviewed for periodicals, such as Lawyer's Weekly, Registered Representative, and Financial Advisor.
Deborah V. Dunn is a partner in the Trusts and Estates Practice Group of Kirkland & Ellis LLP and works out of the Chicago office. She is a 1995 summa cum laude graduate of Brigham Young University's J. Reuben Clark Law School. She concentrates her practice in trust and estate planning and administration for large families of significant wealth.
Ms. Dunn has published several articles in Trusts & Estates Magazine, Estate Planning Magazine, Journal of Taxation, and Estate Planner's Alert. She is the coauthor of the chapter titled "Asset Freeze and Valuation Reduction Techniques" in Estate Planning for Illinois Attorneys: The Basics and Beyond. Ms. Dunn is admitted to practice in the states of Illinois and Hawaii.