RPTE eReport logo

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

Section News

The Section Addresses Congress on Issues of Estate and GST Tax Legislation
The editors of eReport spoke to former Section Chair Ed Koren about pending tax legislation, and the Section’s letter to Congress concerning the need for clarification of transfer taxes. Click here to read this interview.
To download the letter addressed to Congress on December 1, please click here.

Take Advantage of Your RPTE Membership- Join a Free Conference Call
One of the many benefits of being a Section member is the option to join numerous free Group and Committee conference calls that are offered each month. The calls include substantive discussions of legal hot topics and offer a chance to speak with, or listen to, colleagues from around the country as they address current issues facing practitioners. To see the current conference view our homepage here.

Thank You to Our 2010 Fall Leadership Meeting Sponsors
The 2010 Fall Leadership meeting, held November 12-13 in Charleston, SC, was a success due to the generous support of this year's sponsors. Click here to learn more about the sponsors.

Save the Date!
Mark your calendar for the 22nd Annual Spring Symposia, to be held April 28-29, 2011 at the Grand Hyatt in Washington, DC. Read more about this meeting here.

Trust & Estate NewsReal Property News

real property

Real Property News

"Clarifying" Landmark vs. Kesler: The Kansas Legislature Amends the Kansas Code of Civil Procedure and Gives Comfort to Nominees

Kathleen E. Kraft

The status of MERS in connection with foreclosure proceedings continues to be an issue across the country. Recently, the Kansas legislature clarified that status in that state in certain respects. Kathleen E. Kraft discusses this and more in her article.

Top Ten Issues in Co-Tenancy Provisions in Retail Leases
Matthew P. Seeberger

In this article, Matthew P. Seeberger discusses the most significant "co-tenancy" issues for retail landlords.

Calling Out From the Grave
Samuel H. Levine

The Illinois Supreme Court recently provided some clarity regarding proper procedure in judicial foreclosure actions involving deceased mortgagors. Learn more about the decision of ABN AMRO Mortgage Group v. McGahan in this article.

trust and estate

Trust & Estate News
The Ultimate Irony: In Light of the Passage of President Obama’s Tax Proposal, State Formulaic Construction Statutes May Face Their Own Construction Issues…And Time For Bringing a Construction Proceeding May Be Running Out
Sharon Klein
Formula provisions in dispositive documents can become distorted during a period of federal and GST tax lapse. Sharon Klein provides a comprehensive state-by-state update of legislation introduced in 2010 regarding construction of formulaic dispositions, the potential effect of the estate tax/carry-over basis election on construction statutes, and a reminder that time may be running out to bring a judicial construction proceeding in light of apparently persisting uncertainty.

Trusts, Fiduciary Obligations and the Family Jet
Dillon L. Strohm and Michelle M. Wade
Apprise yourself of the duties of a trustee to re-register an aircraft pursuant to the new FAA requirements.

Complex Securities Laws and the Eligibility of Trusts to Make Alternative Investments
Stacy K. Mullaney

Stacey Mullaney simplifies the obtuse securities rules regarding qualified purchasers and accredited investors, and explains how a trust can qualify for such treatment.

Trust & Estate Practice Alert


Should a Corporation Pay Dividends in 2010 To Take Advantage of Low Dividend Tax Rates?
Steven Gorin and Hugh Drake
The 15 percent corporate dividend rate is safe for two more years as a result of the passage of the 2010 tax law in December. Even so, there is still an issue as to whether your corporate clients should pay dividends now or in the next two years to take advantage of low rates.

Technology and Law Practice Management

ABA TECHSHOW 2011- Chicago, IL
Don't miss the 25th anniversary of the ABA TECHSHOW! RPTE is once again a program promoter for this three-day technology related conference on April 11-13, 2011. Learn more about this meeting here!

The Power of the Network: Lawyers and Social Media
Catherine Sanders Reach
Interested in learning more about social media and how it may affect your firm or business? Read about how to stay connected, and which sites may be most beneficial to you in this informative article.

Have you heard? We have monthly contests on our social networking sites where you can win free RPTE eCLEs or even a RPTE book! Join us today!

Facebook   LinkedIn  Martindale Connected

Upcoming eCLE

Trust & Estate eCLE
Qualified Disclaimers – What Part of “No” Don’t You Understand
January 18, 2011

Donee Selection and Practical Considerations Under Petter Formula Allocation Clauses

March 1, 2011

Real Property eCLE
Lease Agreements: When to Assign and How to Do It
January 5, 2011

Work Letters From Design to Substantial Completion
January 19, 2011

Save the date on these upcoming programs:
Topic to be covered: Carryover Basis
February 1, 2011

Same-Sex Spouses, Partners and Adult Adoptions: Trust Administration Issues Presented by Beneficiary Relationships
April 5, 2011

Live From the Spring Symposia Meeting: Hot Topics in Estate Planning 2011
April 29, 2011

Grantor Trust Section 674
May 10, 2011

All RPTE eCLEs are teleconferences, with the option to listen via live audio webcast. All eCLEs occur 12pm - 1:30pm Central time unless noted otherwise.

Group News

Real Estate Financing Group
The Real Estate Financing Group is devoted to assisting attorneys in documenting and enforcing mortgage loans. To learn more about what this highly active Group of five Committees is doing, click here.

Income and Transfer Tax Planning Group
This Group, comprised of six Subcommittees, focuses on the three federal transfer taxes, the income taxation of trusts, estates, grantors and beneficiaries, and tax litigation and controversy. Read more about this Group here.

Committee Spotlight

committee spotlight

Land Use and Zoning Committee

The Land Use and Zoning Committee, the largest Subcommittee of the Land Use and Environmental Group, has speaking and writing opportunities available which were discussed on their latest conference call. Interested in learning more about these opportunities? Click here!

Young Lawyers Network

Chicago Area Lawyer Reception A Success!
Section member Ray Prather helped organize and sponsor a Chicago area real property and trusts and estates reception held in October. Read more about this event here.

Law Students

A Message From the RPTE Law Student Liaisons
Click here to read a message from Chibundu Nnake and Will Hudson, the 2011-2012 RPTE Law Student Liaisons.

Join a Group or Committee Today!

RPTE members can join Groups and Committees online at www.abanet.org/rpte/join. For questions regarding membership, contact the Bunny Lee at (312) 988-5651 or email 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.

The Insured Stock Purchase Agreement

New Book from RPTE

The Insured Stock Purchase Agreement: With Sample Form, Second Edition
Lawrence Brody and Stephen Daiker

Now completely revised and updated,  The Insured Stock Purchase Agreement explains how a stock purchase agreement can be a successful tool for ensuring the harmonious continuation of the closely held corporation and solving the estate planning problems of its stockholders. The book details how a properly drafted and funded stock purchase agreement can accomplish these important planning objectives: protect the corporation and existing stockholders against unwanted new stockholders; provide liquidity to a stockholder or his or her estate on a favorable income tax basis; fix the value of a stockholder’s stock for death tax purposes; in the case of an S Corporation, ensuring continuation of the S election.

Exhibits in  The Insured Stock Purchase Agreement include a comparison of stock redemption and cross-purchase agreements, a table of the Rules of Attribution to corporate stock redemptions, and a sample form stockholder's agreement with drafter's notes.

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. Susan and Michael 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 Association