RPTE eReport logo

  •   A Bi-Monthly Electronic Publication for Section Members
  • October 2010

Section News

Join Our Social Networking Sites!
Do you have a Facebook, LinkedIn or martindale.com Connected account? Join us on our three sites to read up-to-date Section news, share cutting edge articles and network with your colleagues. Click here to read more about the Section's social networking endeavors.

2010 Joint Fall CLE Meeting Wrap-up
This year's Joint Fall CLE Meeting, co-sponsored with the Section of Taxation, was held September 23-25 in Toronto, ON. With roughly 900 participants, the Section hosted CLE programs on a wide range of estate planning topics such as employee benefits and annuities in estate planning. Learn more about this meeting here.

Bill to Overrule Qualitech Decision Introduced in House of Representatives with ABA's Support
Patrick Mears discusses the ABA’s leading role in the introduction of a bill to overrule the Seventh Circuit Court of Appeals’ decision permitting a landlord in bankruptcy to sell real estate free and clear of a leasehold interest. To read more, click here.

Real Property NewsTrust & Estate News

trust and estate

Trust & Estate News


A “One of a Kind” Opportunity is Closing: Leveraging Large Taxable Gifts in 2010 with Life Insurance
Melvin A. Warshaw

Melvin Warshaw provides a comprehensive analysis of a very timely large taxable gift strategy available only in 2010 that can be leveraged and enhanced with life insurance.

Estate of Jensen v. Commissioner
Steve R. Akers
Steve Akers provides a comprehensive summary of the way the Tax Court determined the built-in capital gains tax discount for a decedent's interest in a C corporation using a present value analysis in Estate of Jensen.

Cooperatives 101 – An Introduction to Agricultural Cooperatives and the Federal Regulations and Legal Concerns That Impact Them
Stephanie M. Smith
Stephanie Smith provides a detailed explanation of the ways cooperatives can be used as part of a complete business plan and the differences between cooperatives and other business organizations.

A Preliminary Analysis:  Tax Return Preparer and PTIN Regulations
Grace Allison
Grace Allison provides a summary of the proposed amendments to the tax return preparer regulations and the final regulations on the preparer tax identification number, as well as the final regulations governing the user fees.

The ILIT Liability Minefield: Trustees' and Counsel's Risks
David Neufeld and Melvin A. Warshaw
ILITs are a very common estate planning tool and sometimes are seen as a set-it-and-forget-it technique. David Neufeld and Melvin Warshaw outline several liability issues that ILIT trustees and their counsel should be aware of when drafting and implementing insurance trusts.


real property

Real Property News

Payment of "Stub Rent" in Commercial Tenant Bankruptcy Cases

Brian Hockett
When and where a tenant files bankruptcy may impact what rental obligations must be paid during the month the proceeding is commenced. Read more about how the bankruptcy courts are treating "stub rent" in this article.

Three Things to Consider to Protect Your Company and Your Money: Real Estate Lease Strategic Planning in the Current Economy
James P. Moorhead
This article offers some helpful suggestions for tenants contemplating entering new leases or modifying current leases in today's economy.

Off Balance Sheet Financing via Real Estate "Operating" Leases - Soon to be a Thing of the Past?

Michael Evans, Murphy McMillan and William R. Sylvester
Changes are on the horizon with respect to the accounting treatment of leases. If and when adopted, the revisions to Accounting Standards Codification "Topic 840" will dramatically alter the balance sheet treatment of lease transactions.

Façade Easements after the Whitehouse Hotel Decision
Stuart M. Saft

In this article, Stuart Saft reviews a recent 5th Circuit case addressing the valuation and tax treatment of historic façade easements.

Trust & Estate Practice Alert


Selected Charitable Developments
Grace Allison
Take a moment to catch up on the latest developments in the charitable world, including one-time filing relief for small organizations, valuation of easement contributions, bargain sales of real property, and issues related to the unrelated business income tax.

Technology and Law Practice Management

Developing a Social Media Policy
J. David Duffy
J. David Duffy, an expert in technology-related litigation and a frequent speaker on issues involving technology, e-discovery and social media, provides guidance on how to develop a proper social media policy which sets forth a company’s philosophy regarding acceptable usage of social media platforms. Click here to read this article.

CLE Spotlight

Trust & Estate CLE
Estate Planning with Intellectual Property: Estate Planning and IP Primers for IP Attorneys
Date: October 19, 2010
Time: 12:00 p.m. - 1:30 p.m. Central

Do It Yourself Estate Planning: Why It Costs More Than It Saves
Date: October 21, 2010
Time: 12:00 p.m. - 1:30 p.m. Central

Ethical Issues in Estate Planning for Pet Owners
Date: November 9, 2010
Time: 12:00 p.m. - 1:30 p.m. Central

Real Property CLE
Is There Such a Thing as Judicial Taking? The Lessons of the Supreme Court's Ruling in Stop the Beachfront Renourishment, Inc. v. Florida Department of Environmental Protection, et al.
Date: October 20, 2010
Time: 12:00 p.m. - 1:30 p.m. Central

To view a complete list of upcoming eCLE programs, click here.

Group & Committee News

committee spotlight

Green and Sustainable Transactions Committee

The Green and Sustainable Transactions Committee is a new addition to the Commercial Real Estate Transactions and Management Group. This committee is focused on all aspects of green building, from financing and certifications to government standards and site maintenance. 

Non-Tax Estate Planning Considerations Group
This Group, comprised of six committees, is focused on estate planning and estate and trust administration issues. The Asset Protection Planning Committee, to which more than half of all Group members belong, has been quite busy this year due to the condition of the economy.

Hospitality, Timesharing & Common Interest Development Group
This Group's three committees have been very active this past year, from planning and producing eCLE programs, to gathering information on hot topics to share with their members. To read more about this Group's activities, click here.

Special Investors and Investment Structure Group
From the launch of their LinkedIn page, to the establishment of committee goals, the Special Investors and Investment Structure Group has been busy focusing on communications with its members.

Young Lawyers Network

RPTE Publications Wants Your Help!
One of the many benefits of belonging to the Young Lawyers Network is the opportunity to contribute to RPTE publications like the eReport and Probate & Property. Discover how to publish your work here.

Law Students

Law Student Writing Contest Winners
Congratulations to this year's law student writing contest winners! The Section received many excellent submissions, and is happy to announce the top three entries for the 2010 contest here.

Join a Group or Committee Today!

RPTE members can join a group or committee (or several) online here. For questions regarding membership, contact the Section at (312) 988-5651 or email Bunny Lee at Bunny.Lee@americanbar.org

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 steele@whafh.com for further details.


An Estate Planner's Guide to Family Business Entities

New Book from RPTE

From Handshake to Closing: The Role of the Commercial Real Estate Lawyer, Second Edition
Sidney G. Saltz

From Handshake to Closing explains the lawyer's critical role in documenting, reviewing, and negotiating the real estate transaction, from the beginning of the deal through post-closing issues. This useful mentoring guide includes valuable sample language, examples taken from practice, and insightful tips and techniques for how to assist that client to make and close the deal. Sidney G. Saltz, a veteran real estate lawyer, draws upon his years of practice as a general real estate lawyer to describe the typical situations and stages of a deal and how to get it closed, including:

  • The role of the real estate broker and how to develop a lawyer-broker relationship that will benefit the client
  • Pre-documentation documents: the term sheets letters of intent, or loan commitment
  • Documenting the transaction and creating the "law" of the deal
  • Reviewing and analyzing documents, illustrated by sample concerns and questions
  • Effective rules for communicating comments to the client and to the counterpart lawyer, preparation for negotiation, and negotiating to documents
  • Other issues, including due diligence checklist
  • Preparing for and handling the closing
  • Avoiding the pitfalls that can kill a deal
From Handshake to Closing provides logical and wise commentary on the key steps in a real estate transaction, demonstrating how a thorough understanding of the fundamentals can successfully lead to a heartfelt handshake that completes the closing. In addition to many changes and updates throughout the text, this revised edition includes an index and bibliography.

Click here for more information and pricing.

- PDF version - print the whole issue
- PDF of Trust and Estate articles only
- PDF of Real Property articles only

About the RPTE eReport

The RPTE eReport is the bi-monthly electronic publication of the Real Property, Trust and Estate Law Section. It includes practical information for lawyers working in the real property and estate planning fields, together with news on Section activities and upcoming events. The RPTE eReport also provides resources for seasoned and young lawyers and law students to succeed in the practice of law. For further information on the RPTE eReport or to submit an article for publication, please contact: Robert Steele (Editor) at steele@whafh.com; Cheryl Kelly (Real Property Editor) at CKELLY@thompsoncoburn.com; or Anta Cisse-Green (Trust and Estate Editor) at cissengreena@sullcrom.com. We welcome your suggestions and submissions.

A special thank you to our Editors Emeritus, Susan Talley ( stalley@stonepigman.com ) and Michael Goler ( Goler@MillerGolerFaeges.com), for their hard work throughout the initial development of the eReport, and who are happy to receive readers’ suggestions for future articles.

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.


American Bar AssociationReal Property Trust & Estate Law Section