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 60 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.
Highlights of the 2011 Edition include:
- Addition of a new form — the "RPM Income Trust."
- Addition of a new Appendix — Appendix D, Transfer Tax Rules Applicable to Non-U.S. Citizens;
- Discussion of the latest cases on the Service’s war on FLP’s using IRC Section 2036;
- Coverage of proposed regulations under Section 2032 regarding the use the alternate valuation date;
- Inclusion of IRS interim guidance on deductions of investment advisory fees in light of the Supreme Court’s decision in Knight;
- Discussion of proposed regulations under Section 642 regarding tax character of distributions to charity; and
- GST proposed regulations under Section 2642(g)(1).
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