RPTE eReport | August 2012

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  • A Bi-Monthly Electronic Publication for Section Members
  • August 2012

Section News

The Section Welcomes New Leadership Members
RPTE Section Chair and Officers for the 2012-2013 bar year have been officially announced. Read more about the newly appointed leaders. Additionally, Tina Portuondo, the 2012-2013 Section Chair, has composed a welcome letter to Section members.

RPTE and Taxation Joint Fall CLE Meeting
Do you practice trust and estate law? Join us in Boston for the 2012 Joint Fall CLE Meeting. Visit the meeting webpage for more information.

Help Us Pick the 2013 Spring Symposia Theme!
For the 2012 Spring Symposia, the theme was “Investing in the Future." We are once again hosting a contest to pick a theme that encompasses both the trust and estate and the real property divisions. If your theme is chosen, you will receive FREE registration (a $500 value) to the 2013 Spring Symposia, held May 2-3 2013 in Washington, DC. Email Lee Swanson with your ideas!

August Conference Call Calendar
Have you participated in a free RPTE group/committee sponsored conference call? View the August schedule here. Everyone is welcome to dial-in and listen.

ABA Commission on Sexual Orientation and Gender Identity
The ABA Commission on Sexual Orientation and Gender Identity ("SOGI") is looking for contributors for their new publication, OUT and ABOUT: The LGBT Experience in the Profession. SOGI Chair Courtney Joslin discusses this initiative in a letter to ABA members.

Thank You to the 2012 Skills Training for Estate Planners CLE Program Sponsors!
This annual week-long CLE program would not be possible without the support of our generous sponsors, WSFS Christiana Trust and Holland & Knight.

Articles of Interest

trust and estate

Trust & Estate

Estate of Wimmer v. Commissioner
Steve R. Akers
In Estate of Wimmer v. Commissioner, the court concluded that gifts of limited partnership interests qualified as present interests for the purposes of the gift tax annual exclusion. Steve Akers provides a detailed analysis of the Tax Court’s decision. 

Decanting: A Review of Recent Activity Across the US
Sharon L. Klein
There has been a flurry of state-level activity regarding “decanting,” whereby the assets of an irrevocable trust potentially can be appointed into a new trust with different terms. Sharon L. Klein explores recently enacted and introduced decanting legislation across the country, which arrives against the backdrop of recent Treasury Department and IRS interest.

2012 Planning with Clients: Don’t Forget the Life Insurance Review
Mike Cohn and Paul Yates
With the impending tax law changes, it is important to review clients' plans in order to determine whether it still meets their needs, and to discuss options for clients to use their remaining exemptions before the end of the year. Mike Cohn and Paul Yates provide several tips to assist in reviewing life insurance trusts and the policies held in such trusts.

Trust and Estate Practice Alerts

Treasury Issues New Taxpayer Friendly Portability Regulations
2012 Offshore Voluntary Disclosure Program and FBAR efiling requirements
Income and Transfer Tax Group
The Income and Transfer Tax Group has provided updates on the 2012 Offshore Voluntary Disclosure Program, FBAR efiling requirements, and portability regulations.

real property
Real Property

California Enacts “Homeowner’s Bill of Rights,” a Foreclosure Reform 2.0 Legislative Package
Melissa Richards and Neil Rubenstein
California has become the first U.S. state to adopt into law the residential mortgage foreclosure reform principles outlined in the February 2012 National Mortgage Servicing Settlement with the nation’s top five mortgage servicers. Read this article for further details.

A Letter of Intent is Enforceable. A Letter of Intent is Not Enforceable.
Ira Meislik
This article discusses the enforceability of various letters of intent and how courts interpret the interaction between parties to such a letter.

Tousa: Fraudulent Transfer Jurisprudence in Three Acts
David D. Farrell
In this article, David Farrell chronicles the three act drama that is Tousa.

Ready or Not...Here It Comes! E-mail Service, E-Filing and E-Service are Coming Soon to a County Near You...
Marsha G. Madorsky
This article provides an overview of the changes in Florida law governing service by electronic mail and electronic court filing.

Upcoming CLE

Live In-Person CLE:
RPTE & Taxation Joint Fall Meeting
September 13-15, 2012
Boston, MA

Philadelphia Community Outreach Program: Commercial Real Estate/Trusts and Estates 101 CLE Program
Programs are held the third Tuesday of every month, September 2012-April 2013
Philadelphia, PA

eCLE Programs:
Twenty Tax Traps and Other Trustee Selection Considerations
August 21, 2012

Special Needs Planning: Drafting and Tax Issues for Special Needs Trusts

August 22, 2012

New Markets Tax Credits: The Latest for Real Estate Lawyers
September 12, 2012

Non-Tax Issues in Business Succession Planning
September 20, 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 occasional contests on our social networking sites where you can win free RPTE eCLEs or even a RPTE book!

Join Us

Twitter @rptelaw

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.

Technology/Law Practice Management

Stupid Mistakes That Lawyers Make with Technology
Sharon D. Nelson
This article highlights eight mistakes that lawyers often make. Are you guilty of making them too?

Group and Committee News

Real Property
Leasing Group
With some 400 members, the Leasing Group keeps busy with monthly conference calls and CLE programs. Learn more about this active real property Group.

Trust & Estate
Employee Benefit Plans and Other Compensation Arrangements Group
Summaries of this Group's active committees, and upcoming topics to be presented at the Joint Fall CLE Meeting are discussed in this link.

Volunteer Opportunities

volunteer opportunities

Help Promote @rptelaw on Twitter!
Are you on Twitter and interested in helping the Section grow it's following? We are looking for RPTE members to both follow and retweet us. Do you have suggestions on people or firms to follow? Email Hillary Clark with your ideas. We appreciate your help on this venture!

Young Lawyers Network

Welcome to the 2012-2014 Class of Fellows!
The Section is excited to announce the new class of Fellows! Click here to reveal the newly appointed class.

Spotlight on the 2010-2012 Class of Fellows
Read about Mildred Gomez's experience as a Trust and Estate Fellow thus far in her report.

Law Students

Letters from the Outgoing Law Student Division Liaisons
The 2011-2012 Law Student Division Liaisons recap their past year working with RPTE. Read their experiences here.

Contribute to the eReport

Interested in Contributing to the eReport?
Did you write an article that would be of interest to eReport readers? Do you have suggestions/comments on the content of the eReport? Simply email the Editor, Rob Steele, at steele@whafh.com for further details.

Featured RPTE Book of the Month

Disclaimers in Estate PlanningDisclaimers in Estate Planning
Christopher P. Cline

Disclaimers in Estate Planning by Christopher P. Cline assists the estate planner in making those determinations, understanding the applicable Uniform Acts involved and the specific issues raised by Section 2518, and creating the best strategies and techniques for effectively utilizing disclaimers. 

Topics covered include: state disclaimer laws; federal tax law of pre-1977 transfers; federal tax law of the qualified disclaimer (Section 2518); general transfer tax uses of disclaimer; using disclaimers for credit shelter drafting and repairs; more sophisticated tax disclaimer techniques; disclaimer planning with generation-skipping transfers; disclaimers for income tax planning and creditor avoidance; and potential disclaimer problems.

Click here to purchase this book today
Regular price: $139, RPTE member price: $119.95.

- PDF of the entire August 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 acissegreen@akingump.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 RPTE 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.

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