Join Us at the Spring Symposia!
Online registration for the 2012 Spring Symposia CLE Meeting is now closed, but staff members will be on-site to take your registration beginning this Wednesday, May 2 at the Grand Hyatt New York. Download the on-site registration form.
Click here to read about this year's luncheons and events!
Thank You to Our 2012 Symposia Sponsors
This meeting would not be possible without the generous support of our sponsors. Click here to view the 2012 sponsors.
Section Comments to the IRS
The RPTE Section, along with the ABA Section of Taxation, has submitted their comments on "Options for Tax Reform and Simplification with Respect to Federal Estate, Gift and GST Taxes" to the IRS on March 21st. Download their comments.
Task Force on Do-It-Yourself (DIY) Estate Planning
In 2011, Section leadership designated a task force to investigate and evaluate issues relating to the recent proliferation of DIY planning providers. Read more about this task force and download the DIY guide.
Comments on Proposed Treasury Regulations Under the Foreign Account Tax Compliance Act ("FATCA")
The International Tax Planning Committee recently submitted comments to the IRS which addressed concerns about the potential application of FATCA to trusts, estates, and trustees, and in particular the compliance issues that may be imposed on foreign trusts and foreign trustees under FATCA. The comments offer several recommendations to the IRS that are aimed to eliminate or reduce the compliance burdens that foreign trusts and foreign trustees may face in the event the proposed treasury regulations become final. Download the Committee's comments here.
Apply Today for the Skills Training for Estate Planners CLE Program
If you are new to the estate planning field, this program is not to be missed! Read about the 2012 Skills Training for Estate Planners CLE program, held July 8-13 in New York in this link.
Top 5 Probate & Property Covers Revealed!
Click here to view the results of the contest, which was produced in conjuction with the magazine's 25th year of publication.
Articles of Interest
Trust & Estate News
Estate of Turner II, 138 T.C. No. 14
Steve R. Akers
Estate of Turner II is a supplemental decision to the Tax Court’s decision in Estate of Turner v. Commissioner. Steve Akers explores the tax court’s analysis of whether §2036 applies to assets contributed to a family limited partnership, and the court’s conclusion that any such assets attributable to limited partnership interests that were given away during life to children and grandchildren cannot qualify for the estate tax marital deduction.
Wandry v. Commissioner, T.C. Memo 2012-88
Steve R. Akers
In what estate planners may consider a monumental win for the taxpayer, the Tax Court in Wandry v. Commissioner approved a gifting strategy of interests in a family limited partnership which contained a defined value clause. The Wandry case, summarized in depth in this article, also provides valuable guidance on how to draft a successful defined value clause.
Astrue v. Capato: The U.S. Supreme Court Hears Oral Argument on Postmortem Conception
In the December issue of the eReport (found here), Kris Knaplund provided a summary of the 8th Circuit’s decision in Beeler v. Astrue and described the issues that have been raised in cases involving postmortem conception of children and issues of inheritance. Professor Knaplund now provides a detailed summary of the U.S. Supreme Court oral arguments in Astrue v. Capato.
Income Taxation on Claim Recovery in Excess of Estate Tax Return Valuation
Arthur B. Reinwald
Do you know whether an amended or supplemental estate tax return is required when an estate is involved in a litigation or claim that was resolved after the estate tax return is filed? This article explores the requirements of filing such a return and the factors that may determine the answer to this highly debated question among estate planners.
Real Property News
U.S. Supreme Court Sides with Property Owners Over U.S. EPA on Wetlands Compliance Order
Frank Merrill and Robert James
The U.S. Supreme Court recently determined that compliance orders issued by the U.S. Environmental Protection Agency under the Clean Water Act are subject to immediate judicIal review under the Administrative Procedures Act. This decision reverses the trend by federal circuit courts to deny such review. Learn more about how property owners may benefit from this recent ruling from this article by Frank Merrill and Robert James.
The Final Word: FHFA Issues Final Rule on Private Transfer Fee Covenants
On March 16, 2012, the Federal Housing Finance Agency issued its final rules governing treatment of private transfer fees in financings. Unless a private transfer fee covenant falls squarely within the narrow exemptions set forth in the rules, builders and developers risk creating projects that are unable to be financed by homeowners that would otherwise rely on financing from Freddie Mac, Fannie Mae and the Federal Home Loan Bank for acquisition and refinancing opportunities. Learn more by reading Kelly Weiner’s thorough review of the new rules.
Trust & Estate Practice Alert
California Litigation Update
New Jersey Litigation Update
Anthony LaRatta and Steven Mignogna
The Litigation, Ethics and Malpractice Group summarizes 2 cases: A California case, Andersen v. Hunt, 196 Cal.App.4th 722 (2011), about the distinction (of lack thereof) between a will and a trust for capacity purposes; and a New Jersey case, Tannen v. Tannen, 208 N.J. 409 (2011), about whether the assets of a trust should be at issue in a divorce proceeding.
Live In-Person CLE:
Chicago Trusts and Estates Spring Community Outreach Program
Wednesdays in April and May, 2012
23rd Annual RPTE Spring Symposia
May 3-4, 2012
New York, NY
Skills Training for Estate Planners CLE Program
July 8-13, 2012
New York, NY
Live From the Spring Symposia: Trust & Estate Hot Topics
May 4, 2012
The Beneficiary Flexible Trust
May 16, 2012
REITs for Real Estate Lawyers (webpage coming soon!)
May 23, 2012
To view a complete list of upcoming eCLE programs, visit the eCLE webpage here.
All RPTE eCLEs are teleconferences, with the option to listen via live audio webcast. All eCLEs occur 12 p.m.-1:30 p.m. Central time unless noted otherwise.
Have you heard? We joined Twitter! We have monthly contests on our social networking sites where you can win free RPTE eCLEs or even a RPTE book!
Join a Group or Committee Today!
RPTE members can join Groups and Committees online at www.ambar.org/rpte. For questions regarding membership, contact Bunny Lee at (312) 988-5651 or email email@example.com.
Group and Committee News
Practice Management Group
This Group has two programs planned for the Spring Symposia, one featuring the ever-popular Mike Rubin on the piano! Read more here.
Residential, Multi-Family and Special Use Group
From numerous Group conference calls, to providing commentary on housing discrimination, the Residential, Multi-Family, and Special Use Group has been very active this year! Read about this Group here.
Trust & Estate
Elder Law, Disability Planning and Bio-Ethics Group
This Group has begun to edit the much-anticipated Fourth Edition of "Third-Party and Self-Created Trusts," an ABA publication that set the stage for the veritable explosion of Special Needs Trust planning over the past decade. Read more from this Group here.
Charitable Planning and Organizations Group
The Charitable Planning and Organizations Group has a busy April ahead with three programs planned for the Spring Symposia, and a meeting with the IRS. Learn more here about this Group.
Are You An Associate Member?
The Section is looking to improve our Associate membership program to better suit our non-lawyer members. If you are an Associate member (non-lawyer), please take our quick survey here.
Young Lawyers Network
Spotlight on the 2010-2012 Class of Fellows
Christina Jenkins has three reasons why being a RPTE Fellow can impact your career. Read more here.
Attend the "Big Apple Meet & Greet" Social
Will you be at the Spring Symposia? Are you looking to meet new people, or are you new to RPTE? Join the Section on Wednesday, May 2 from 5-6 p.m. at the Grand Hyatt New York for this free welcoming reception!
Apply to Become a RPTE Fellow
Are you interested in becoming a 2012-2013 Fellow? Read about this popular program and download the current application.
2012 Student Writing Contest
The Section is now accepting entries for the 2012 Law Student Writing Contest! Read more about this annual contest.
Would you like to write an
article for the eReport?
If you have something to say, and would like your article considered for the eReport, simply email Robert Steele, Editor, at firstname.lastname@example.org for further details.