P R O B A T E   &   P R O P E R T Y
November/December 2003
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Articles from other issues of Probate and Property


Section News

ABA-CLE Real Property, Probateand Trust Audiotapes

Unless otherwise indicated, all Audio Packages are $150 and include course materials. For more information and to order, visit www.abanet.org/cle/catalog.

Split-Dollar/Estate Planning Package T03SDEA $240

This package, which includes The Latest Developments in Estate Planning: Split-Dollar Insurance and Using Split-Dollar Insurance in Estate Planning Under the Proposed Regulations, covers what you need to know about IRS Notice 2002-8 and the Revised Split-Dollar Proposed Regulations.

Topics discussed include:

•     A comparison of the new rules in IRS Notice 2002-8 and the Proposed Regulations,

•     Valuation of current life insurance protection provided to employees and tax consequences associated with existing split-dollar plans,

•     Planning opportunities for new collateral assignment split-dollar plans entered into before the Final Regulations,

•     “Economic benefit” vs. “loan regimes,”

•     Rules applicable to arrangements entered into after the Final Regulations and the opportunities that will still exist, and

•     Factors to consider in establishing or amending a plan.

Hot Topics in Estate Planning with Professor Jeffrey Pennell (2003) T03HTPA

Professor Pennell explores recent wealth transfer tax legislation, regulations, cases, and rulings, as well as the most current and breaking topics in estate planning. Discover their significance to practical planning, and acquireindispensable planning tips.

The ABE Charitable Gift Fund—Giving Made Easy

Most experts agree that a planned giving program is an important step for those who want to establish a pattern of giving to philanthropic causes. The American Bar Endowment, a charitable affiliate of the ABA, has developed a donor-advised fund to help ABA members develop their planned giving programs.

Opening an account in a donor advised fund is easier and less expensive than setting up a private foundation, and donor advised funds are subject to fewer restrictions and regulations than private foundations.

Designed by lawyers for lawyers, the ABE’s Charitable Gift Fund provides these benefits:

•     Immediate Tax Deduction —Tax advantages are achieved imme-diately, yet grants to your favorite charities can be recommended at a later time of your choosing.

•     Cost Savings —Low administrative fees allow more of the account to go to the philanthropies you care about most.

•     Simplicity —Once an account is opened the ABE handles all paperwork and record keeping, provides account statements, and writes and mails grant checks.

•     Advancing Good Works —Donors are encouraged to advance the legal profession by recommending that at least 20% of the distributions from each account go to legal organizations promoting justice and law.

•     A Legacy of Giving—Donors can name spouses, children, or others as advisors and successors with the power to recommend grants, carrying forward the legacy of charitable giving.

ABA members interested in opening an ABE Charitable Gift Account can call 1-800-621-8981 or e-mail cgf@abendowment.org.

RPPT Committee Spotlight

Join a Section Committee

Committee activity provides much of the basis for our high quality educational programs and articles in our publications, Probate & Property magazine and the Real Property, Probate and Trust Journal.  Some of our committees work on legislative issues on the national as well as the state level.  Some committees are small working groups; others are large and accept members on an informational basis.  The Section has over 100 Committees involving over 3,000 members of the Section.

If you are a member of the Section and do not belong to a Committee, you are not taking full advantage of your Section membership.  All Section members may join up to two committees free of charge.

To sign up for a committee please visit our web site or contact the committee coordinator at (312) 988-5651. For the complete Guide to Committees, complete with committee descriptions, please visit our web site at www.abanet.org/rppt.

This issue’s committee highlights:

Real Property Division—B-2 Ethics and Professionalism

This committee promotes the ethical and professional responsibility of the legal profession in real estate transactions. The committee produces programs and publications designed to work directly with Section members to achieve this goal.  

Chair: James Geoffrey Durham    

Web site: www.abanet.org/rppt/cmtes/rp/b2/home.html

Probate and Trust Division—B-2 Estate andGift Tax

This committee covers all aspects of the federal estate and gift tax. Thus, it focuses on planning techniques and drafting solutions. It also follows legislation and regulations involving such taxes and preparescomments for submission to Congress or Treasury when deemed appropriate. The members of the committee publish information for Section members on these topics and participate in or sponsor Section CLE programs.

Co-Chairs: Susan Taxin Baer and

Susan Peckett Witkin

Vice-Chairs: Paul I. Rosenberg and

Edward Middleton Manigault

Web site: www.abanet.org/rppt/cmtes/pt/b2/home.html

The Section of Real Property, Probate and Trust Law acknowledges its appreciation to all theadvertisers that support thispublication. Our advertisers playan integral part in the success of Probate & Property.

We are pleased to have the support of the following companies:

Advent Oil & Gas

Blake & Blake

Core Funding Group, LP

Oil & Gas Investments, LLC

The Cleveland Foundation

Valerie Greenberg

Wall Street Brokers, Inc