ALI-ABA Course of Study Planning Techniques for Large Estates April 26-30, 2010 New York, New York FACULTY PARTICIPANTS VOLUME 1

Transcription

1 ALI-ABA Course of Study Planning Techniques for Large Estates April 26-30, 2010 New York, New York PROGRAM FACULTY PARTICIPANTS STUDY MATERIALS TABLE OF CONTENTS Page xiii xv VOLUME 1 1. No Taxpayer Left Behind: Tax-Wise Techniques for Funding Education 1 By Susan T. Bart Table of Contents 3 Study Material 7 Appendix I: Transfer Tax Costs of GST Transfers of $1,000,000 in Appendix II: Disposition of $1,000,000 in GST Transfers in Appendix III: Creditor Protection for 529 Savings Accounts Some Interest-Sensitive Estate Planning Techniques (With an Emphasis on GRATs and QPRTs) By Lawrence P. Katzenstein 3. An Introduction to Actuarial Valuations for Estate Planners By Lawrence P. Katzenstein 4. Asset Protection: Trust Planning 201 By Duncan E. Osborne and Mark E. Osborne Table of Contents 203 Study Material 209 Chart A: Export the Assets 322 Chart B: Import the Law 323 Chart C: Private Trust Company/Purpose Trust 324 Chart D: Drop-Down Corporation 325 Chart E: Sister Corporation 326 Chart F: Limited Partnership 327 Chart G: Existing Corporation (Controlled by Settlor) Some of the Best Family Limited Partnership Planning Ideas We See Out 351 There (That Also Have the Merit of Playing Havoc With Certain Conventional Wisdom ) By S. Stacy Eastland Table of Contents 354 Study Material

2 6. Legislative Outlook 717 Table of Contents 720 Study Material Estate Planning in the Shadow of the One-Year Repeal of Estate and 827 GST Tax in 2010, Ronald D. Aucutt, and Carlyn S. McCaffrey Table of Contents 828 Study Material Valuation Developments: Family Limited Partnership Cases and Other Valuation Developments 9. Recent Valuation Decisions 947 Table of Contents 948 Study Material Confronting the Deemed Sale Rule Exposure From FLP Distributions and Related Transfer Considerations Planning With Family Limited Partnerships in the Current Environment: A Checklist Approach in Response to the Trend of Recent Valuation Decisions and IRS Attitudes Current Through March 26, Installment Sales to Grantor Trusts 1013 Table of Contents 1014 Study Material The Statute of Limitations and Disclosure Rules for Gifts 1079 Table of Contents 1080 Study Material 1081 Appendix A: Disclosure Checklist 1114 Appendix B: Chief Counsel Advice Circular 230: Estate Planning Issues 1121 Table of Contents 1122 Study Material 1123 Appendix: Menu of Circular 230 Disclosure Statements 1158

3 VOLUME Postmortem Planning Considerations for the Family Business Owner: 1159 A Review of Income, Gift, and Estate Tax Planning Issues Table of Contents 1160 Study Material Tax and Estate Planning Issues for U.S. Clients Who Own Foreign 1367 Property By M. Read Moore Table of Contents 1368 Study Material 1369 Appendix 1: Ten Important Things to Know About U.S. Clients With Foreign Property 1504 Appendix 2: Form of Certificate for an International Will Under the Washington Convention Certificate Marital Deduction Planning in Uncertain Times 1507 By Jeffrey N. Pennell Table of Contents 1508 Study Material Tax Apportionment By Jeffrey N. Pennell Perpetual Dynasty Trusts: Tax Planning and Jurisdiction Selection 1569 By Richard W. Nenno Table of Contents 1570 Study Material 1575 Appendix A: Exempt Dynasty Trust Illustrations 1775 Appendix B: Charitable-Lead Unitrust Illustrations 1777 Appendix C: State Uniform Trust Code Statutes 1779 Appendix D: State Perpetuities Statutes 1781 Appendix E: Bases of State Income Taxation of Nongrantor Trusts 1784 Appendix F: State Prudent-Investor Rule Statutes 1796 Appendix G: State Directed Trust Statutes 1799 Appendix H: State Third-Party Trust Statutes 1802 Appendix I: State Self-Settled Trust Statutes 1805 Appendix J: State Power to Adjust and Unitrust Statute 1808 Appendix K: State Liability Systems Ranking 1812 Appendix L: State Noncharitable Purpose Trust Statutes 1815 Presentation Slides 1818

4 20. Planning and Defending Domestic Asset-Protection Trusts 1825 By Richard W. Nenno and John E. Sullivan, III Table of Contents 1827 Study Material 1833 Appendix A: State Self-Settled Trust Statutes 2034 Appendix B: A Comparison of the Domestic APT Acts 2037 Appendix C: Delaware APT Case Studies 2055 Presentation Slides Income Tax Problems When the Estate or Trust is a Partner 2069 Table of Contents 2071 Study Material 2073 Exhibit A: Mixing Bowl Flowchart for Partnership Property Distributions 2140 Exhibit B: Section 754 Decision Tree 2141 Exhibit C: When Trust Capital Gains are Included in Distributable Net Income Estate Planning and Administration for S Corporations 2143 Table of Contents 2144 Study Material 2146 Exhibit A: Sample QSST Election 2198 Exhibit B: Sample ESBT Election 2199 Exhibit C: Sample Election and Consent to Use the Interim Closing of the Books Method 2200 Sample Refusal to Consent to QSST Election Life Insurance Products and Planning By Charles L. Ratner Ethical Issues in Practice: Important Fiduciary Litigation 2229 By Bruce S. Ross Table of Contents 2231 Study Material Supplement for Income Tax Problems When the Estate or Trust Is a Partner (handout) Current Issues in Generation-Skipping Tax Planning (handout) By R. Eric Viehman 27. Charitable Alternatives (handout) By Paul N. Frimmer 28. Specimen of Distributee Trust (handout)

5 29. IRA and Retirment Plan Distribution Planning: Separate Accounts and Related Planning Alternatives (handout) 30. Specimen Beneficiary Designation: Drafting for Establishment of Separate Accounts (handout) 31. Sample Codicil, addressing 2010 Tax Law Changes (handout) Submitted by Malcolm A. Moore 32. Addendum to Valuation Update (handout) 33. Holman v. Commissioner (handout)