RPTE eReport

2014
APRIL

IN THIS ISSUE

Section News

Young Lawyers
Network


Law Students

Upcoming Programs

Articles of Interest:
  Real Property
  Trust & Estate
  Practice Alert

Technology & Law
Practice Management


Group & Committee
News

Featured RPTE
Book of the Month


Downloads

Learn About and Contribute to the
eReport


www.ambar.org/RPTE

 

  SECTION NEWS

Online Registration Closes April 18 for the Spring Symposia

Are you planning to attend the Spring Symposia this May 1-2? Be sure to register online before April 18! Onsite registration will take place at the Chicago Ritz-Carlton on April 30. Visit www.ambar.org/rptesymposia for registration information and programming details.

#rptesymposia

Do you follow RPTE on Twitter and Facebook and plan to go to the Spring Symposia? Be sure to use #rptesymposia when you mention the meeting so we can easily follow and retweet your tweets!

Skills Training for Estate Planners CLE Program

Our highly acclaimed annual CLE program is back and registration is now open! We once again will feature two tracks, Fundamentals and Advanced Topics, to be held at the New York Law School in July. Learn more here!

Leadership Directory Sponsorship Opportunity

Is your company interested in advertising in the RPTE Leadership Directory, which 375+ leadership members receive and use throughout the entire year? Download the sponsorship document, and email staff member Bunny Lee with any questions.

ABA Diverse Speakers Directory

The ABA Diverse Speakers Directory is a national clearinghouse for legal experts who are interested in speaking and or in moderating programs. Learn more about the Directory and how to enroll.

Probate & Property Excellence in Writing Awards

Every year, the editors of the Section's magazine, Probate & Property, announce their selection of favorite articles. View the winners and read their articles.

ABA MAGNITUDE360 Annual Meeting

The ABA MAGNITUDE360 format is the centerpiece of the new Annual Meeting and encompasses Association-wide events which will lead to a more streamlined and focused meeting allowing more opportunity for you to attend events with fewer scheduling conflicts. Join the ABA in Boston, MA August 8-10.

Free Committee Conference Calls

Be sure that you are taking advantage of your RPTE membership by joining a free committee conference call. Download the April schedule, and mark your calendar to call in!

Back to Top

 FacebookLinkedInTwitter @rptelaw

Symposia


 

Young Lawyers Network  YOUNG LAWYERS NETWORK

Join the Young Lawyers Network on LinkedIn

Are you on LinkedIn? Be sure to join the Young Lawyers Network (YLN) on their LinkedIn page. Post articles and job openings, start discussions and connect with other young RPTE lawyers in your field. Connect online today!

Back to Top

 

Law Students  LAW STUDENTS

Now Accepting Entries for the RPTE Law Student Writing Contest

Did you write a paper for a law school class and want to submit it for the chance to win $2,500 and a trip to the RPTE Fall Leadership Conference in Laguna Beach, CA this November? Learn more about the contest and download the rules and entry form on the law student webpage.

Speed Networking Event at the Spring Symposia

Do you live in the Chicago area and want to attend our first ever speed networking event? Download the informational flyer and plan to join us at the Ritz-Carlton on April 30 at 6:15pm for fast-paced networking event with RPTE young leaders. Email Hillary Clark to secure your spot.

University of Miami School of Law LL.M Event

Learn about LL.Ms in Real Property Development, Estate Planning, Tax, Taxation of Cross-Border Investment and more on May 13 at 6:30pm at Morton's Steakhouse in Miami, FL. RPTE's past Chair Tina Portuondo will be in attendance. For more info and free registration, click here.

Back to Top

 

Law Students  UPCOMING PROGRAMS

eCLE PROGRAMS

What It Means To Be A Fiduciary

April 15

In the Aftermath of the QM Rule: Counseling Your Settlement Agent/Lender Clients and Avoiding Traps for the Unwary

April 16

Fundamentals of Commercial Real Estate
Session 4- The Next Steps in Financing for Real Estate Lawyers

April 23

WEBINARS

Paralegal eLearning Program
Session 5- Powers of Attorney

April 24

LIVE IN PERSON

Chicago Community Outreach: Estate Planning Basics

April 30
Chicago, IL

RPTE Spring Symposia CLE Meeting

May 1 & 2
Chicago, IL

Skills Training for Estate Planners CLE Program

July 14-18
New York, NY

To view a complete list of upcoming programs, visit www.ambar.org/rpteCLE

Back to Top

 

Articles of Interest  ARTICLES OF INTEREST

real property trust and estate

Lying in the Weed – Receiverships and Marijuana Grow Centers and Dispensaries

Samuel H. Levine
This article identifies some of the issues faced by a receiver tasked with managing marijuana grow centers and dispensaries.

National Survey of Closing Professionals Reveals Concerns about Fraud, Rising Costs of Insurance, and Uncertainty about the Future

Andrew Liput
Andrew Liput discusses a recent survey of real estate closing professionals. The poll provides a snapshot of the tensions and concerns among closing professionals about how the marketplace is reacting to new regulations from various agencies including the Consumer Financial Protection Bureau and Office of Comptroller of Currency.

Back to Top

 

 

The Clash Between Section 954 of Dodd-Frank Claw-Back Statute and Section 162(m) of the Internal Revenue Code May Cause Redesigns of Compensation Programs

Stephanie Schroepfer
The looming potential clash between Section 954 of Dodd-Frank and Section 162(m) of the Internal Revenue Code is causing some Compensation Committees to restructure their executive compensation programs.

Camp Tax Reform Proposal & the Income Tax Charitable Deduction

Grace Allison and Jessica Baggenstos
This article highlights the impact of House Ways and Means Committee Chairman Dave Camp’s draft of the Tax Reform Act of 2014 on the income tax charitable deduction.

Material Participation by Trusts, Frank Aragona Trust v. Commissioner

Steve R. Akers
Steve Akers summarizes the recent Tax Court holding in Aragona which rejected the IRS contention that a trust which owned real estate rental property could never qualify for the real estate professional exemption under Sec. 469(c)(7), and further held that the activities of trustees as employees of an LLC wholly owned by the trust and managing real estate belonging to the trust are considered in determining if the trust materially participates in the real estate rental business.

Non-filing and Tax-Exempt Status: Revocation and Reinstatement

Grace Allison
This article discusses the new guidance provided in Revenue Procedure 2014-11 with respect to the ability of a tax exempt organization to apply for reinstatement of its tax exempt status after its exempt status was automatically revoked by the IRS for failure to file the required returns or notices for three consecutive years.

PRACTICE ALERTS

Recent Trust and Estate Litigation Cases

The Litigation, Ethics, and Malpractice Group has provided several case summaries ranging from arbitration clauses in trusts to the appropriate standard for capacity when executing documents.

New York Income Taxation of Trusts

Bruce Steiner
New York has modified its taxation of trusts, including INGs – Incomplete Non-Grantor trusts. Bruce Steiner provides a very helpful brief summary of the latest New York law.

Back to Top

 

Technology & Law Practice Management  TECHNOLOGY & LAW PRACTICE MANAGEMENT

Making Your Estate Planning Practice More Efficient and Profitable In this Post-Estate Tax Era

Martin Shenkman
Estate planning for clients under the $5.34M threshold will be dramatically different than it has been in the past. How can practitioners use changing demographics, current technologies, and practice efficiencies to thrive in this new environment?

Back to Top

 

Technology & Law Practice Management  GROUP AND COMMITTEE NEWS

real property trust and estate

Practice Management Group

This Group is sponsoring a CLE program at the upcoming Spring Symposia. Read about their program by clicking here.

Residential, Multi-Family and Special Use Group

Read about the Housing Group and its four busy committee's in this link. They are also sponsoring a CLE at the Spring Meeting!

Back to Top

 

Elder Law, Disability Planning and Bioethics Group

This Group consists of three committees that focus on legal concerns of the elderly and persons with disabilities, along with legal and ethical issues related to new medical technology. Learn more here.

Charitable Planning and Organizations Group

From government submissions to quarterly calls and eCLE's, this Group has much to report. Read more about this Group.

Back to Top

JOIN A GROUP OR COMMITTEE TODAY!

Group and Committee membership is free to all RPTE members! Learn more about our nine Real Property Groups and seven Trust and Estate Groups. For questions regarding membership, contact Bunny Lee at (312) 988-5651 or email bunny.lee@americanbar.org.

Back to Top

 

Book of the Month  FEATURED RPTE BOOK OF THE MONTH

Book of the Month 

Federal Gift, Estate, and Generation-Skipping Transfer Taxation of Life Insurance, Third Edition

Lawrence Brody, Norman H. Lane, and Mary Ann Mancini

Now updated and completely revised, this volume in the popular Insurance Counselor series will help you take full advantage of minimizing the transfer taxation of the estate plan as well as avoid the many pitfalls that can arise. The first chapter deals with life insurance as a gift, informing you about the valuation of policies and their qualification for the gift tax annual exclusion. Among the areas discussed are: outright transfers, transfers in trust, indirect gifts; the uses and issues relating to Crummey powers; and the gift tax marital deduction

Further issues discussed in the second chapter are the gift tax, including consideration of cases when a gift occurs with respect to a life insurance policy, the valuation of the gift, and the availability of the gift tax annual exclusion and the gift tax charitable or marital deduction. The third chapter deals with the estate taxation of life insurance, with emphasis on the two IRC sections that have particular application to life insurance: sections 2035 and 2042. The fourth chapter discusses the generation-skipping transfer tax and its application to life insurance and irrevocable life insurance trusts, while the final chapter specifically addresses important community property considerations.

Back to Top

 

Purchase this book today!

Regular price: $129.95
RPTE member price: $99.95

 

Downloads  DOWNLOADS

PDFPDFPDF

Back to Top



American Bar Association

The materials contained herein represent the opinions of the authors and editors and should not be construed to be those of either the American Bar Association or The ABA Section of Real Property, Trust and Estate Law unless adopted pursuant to the bylaws of the Association. Nothing contained herein is to be considered as the rendering of legal advice for specific cases and readers are responsible for obtaining such advice from their own legal counsel. These materials and any forms and agreements herein are intended for educational and informational purposes only. The authors and other contributors to the RPTE eReport are solely responsible for the content of their submissions, including the accuracy of citations to legal resource materials.