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  • A Bi-Monthly Electronic Publication for Section Members
  • February 2013

Section News

2013 Spring Symposia CLE Meeting
spring symposia
Join us in Washington, D.C. May 2-3 for two days of programming critical to your practice. Leading practitioners in real property law and trust and estate law, as well as Washington insiders including judges, government officials, and U.S. Senate staff, will share their insights on recent developments and what to expect in the future. Visit our Symposia webpage for more information.

2013 Skills Training for Estate Planners CLE Program
Save the date for this annual week-long CLE program! The Section will once again host this intensive program for practitioners new to the estate planning field at New York Law School July 15-19. Are you interested in sponsoring this program? Email Bunny Lee for more information.

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.

Paralegal eLearning Training Program
Did you know that the Section is offering free ABA and RPTE Associate membership for paralegals who sign up for all ten sessions of this program? Learn more about this program for paralegals, legal assistants, and others working in the area of trust and estate law on the Paralegal eLearning webpage.

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

Articles of Interest

real property

Real Property

Valuing Collateral for Bankruptcy: Do Low-Income Housing Tax Credits Count?
Vicki Harding
In this article, Vicki Harding discusses recent bankruptcy decisions determining the character of low income housing tax credits.

Negotiating Cam Caps: Balancing the Interests of Landlords and Tenants
Scott Grossfeld
In this article Scott Grossfeld discusses the use of caps of common area charges as a method of limiting retail tenant's obligations under their leases.

trust and estate
Trust & Estate

American Taxpayer Relief Act of 2012
Steve Akers and Benjamin Pruett
Steve Akers and Benjamin Pruett present an overview of the new law and discuss the implications for estate planning.

Heckerling Musings
Steve Akers
Steve Akers provides complete and insightful commentary on this year’s Heckerling Institute on Estate Planning.

Present Interest Gift Victory for Taxpayer
Lance Hall
Lance Hall examines the court’s decision in Wimmer v. Commissioner where the tax court concluded that the gifts of limited partnership interests qualified as present interests for the gift tax annual exclusion despite the transfer restrictions on the gifts.

New York Estate Tax on Real and Tangible Property - When Intangibles Become Tangible
Nina Krauthamer
Usually New York only imposes an estate tax on property situated in the state. Nina Krauthamer examines when ownership in closely-held companies is subject to New York estate taxes, and whether a non-resident decedent benefits from having a closely-held company or revocable trust hold property located in New York.

Revenue Ruling 2011-28: Life Insurance Can be Subject to a Grantor’s Power of Substitution
Robert D. Steele and Timmy Lee
In Revenue Ruling 2011-28, the IRS held that a grantor’s power of substitution held in a nonfiduciary capacity over trust property which includes life insurance policies does not cause the inclusion of the policies in the grantor’s gross estate.

Trust and Estate Practice Alerts

The Employee Benefits and Other Compensations Group provided two recent updates for the February Practice Alerts:

ERISA Litigation Update - Private Equity Funds as Controlled Group Members
John Paliga
John Paliga describes the different interpretations of Section 414 on whether a private equity fund is a trade of business for determining if a controlled group is formed when it owns 80% or more of a different trade or business.

PBGC Announces Targeted Relief from Downsizing Liability
Harold Ashner
The Pension Benefit Guaranty Corporation announced a pilot program to provide targeted relief from downsizing liability. Harold Ashner describes who might qualify and the type of relief available.

Technology & Law Practice Management

Mark your calendars to join the ABA Law Practice Management Section for the ABA Techshow April 4-6 in Chicago! Gain valuable insights regarding the latest technology, visit vendor booths in the expo hall, and attend the keynote speaker David Pogue's session. Visit the ABA Techshow webpage for more information.

Upcoming CLE

Live In-Person CLE:
Philadelphia Community Outreach Program: Commercial Real Estate/Trusts and Estates 101 CLE Program
Programs are held the third Tuesday of every month,
February - April
Philadelphia, PA

24th Annual RPTE Spring Symposia CLE Meeting
May 2-3
Washington, DC

eCLE Programs:
Fundamentals of Real Estate eCLE Series
Session 2: Commercial Real Estate Leasing
February 19

Restrictive Covenants: What Recent Caselaw Tells About Fancy Groceries (Is a Burrito a Sandwich?)
February 20

Gift Tax Returns
March 5

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.

Group and Committee News

Real Property
Commercial Real Estate Transactions Group
Attorneys who practice in the field of commercial real estate are encouraged to read about and join this active group and its six committees in this detailed report.

Trust & Estate
Income and Transfer Tax Group
Read about the Trust & Estate division's second largest group (with nearly 600 members), chaired by Leigh-Alexandra Basha, in this link.

Volunteer Opportunities

volunteer opportunities

Help Promote the Spring Symposia on Twitter!
Do you love to tweet? Help us promote the 24th Annual Spring Symposia by tweeting #rptesymposia. We would love to hear which programs you are looking forward to attend! Follow RPTE on Twitter today.

Young Lawyers Network

Spotlight on the 2011-2013 Class of Fellows
Trust and estate Fellow Javier Tapia of Dallas, TX details the importance of his Fellowship on his career thus far. Read more here.

Law Students

Attend the Spring Symposia for FREE!
Did you know that as a RPTE law student, your admission to the Spring Symposia is free? Volunteer to help at the meeting and we will comp your reception ticket! The reception is the perfect event to mingle with Section members and Symposia speakers. Contact Lee Swanson for more details.

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

Elder LawEthics in the Practice of Elder Law
Roberta K. Flowers and Rebecca C. Morgan

In an elder law practice, ethical issues can occur at any point during the representation, seemingly suddenly appearing, and in some instances taking the attorney by complete surprise. An informed overview of the most common issues facing an attorney in elder law practice, Ethics in the Practice of Elder Law raises the questions and identifies the issues that may occur in an elder law practice that will, hopefully, help the elder law attorney be mindful of the potential for ethical problems and provide an analysis for the elder law attorney to use when working through the ethical issues.

Authors Roberta K. Flowers and Rebecca C. Morgan offer a range of hypothetical situations, along with a series of opening questions for each situation, followed by a detailed discussion with suggestions for analyzing and responding to the issue.

Click here to purchase this book today!
Regular price: $99.95, RPTE member price: $79.95

- PDF of the entire February 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.

American Bar Association