RPPT Bulletin

July 2003

Download the pdf version of the bulletin (click here)

The RPPT Bulletin is emailed out on a bi-monthly basis to all Section members to keep members up-to-date on the activities of the Section.

Once again, the Section's minority outreach program, initiated by Manny Halper, has received recognition from the ABA. The ABA Journal E-Report, at www.abanet.org/journal/ereport/m30real.html, has described the program as one that "teaches lawyers how to complete deals and steers clear from a traditional law school approach to case law study," and provides a "mentoring network for solo practitioners who don't have access to partners or the resources of a large firm." Congratulations to Manny, Barry Nekritz, Sid Saltz and so many other Section members and Section staff that have contributed to the success of the program!

RPPT/Taxation Joint Fall CLE Meeting
The ABA Sections of Taxation and Real Property, Probate and Trust Law (RPPT) will co-sponsor a Joint Fall CLE Meeting to be held September 11-13, 2003 in Chicago, IL. The Sheraton Chicago Hotel and Towers will serve as the Headquarters hotel.

The Tax Section Committees will hold their regularly scheduled committee meetings on Friday and Saturday, which will include panels of interest to both Tax and RPPT members. In some instances, panels are co-sponsored by committees from both Sections. On Saturday afternoon, in-depth joint programs will be offered that include tax, property, and probate topics. Ticketed events, including the Friday Reception and Saturday Luncheon, will offer networking opportunities for all attendees.

The Sections of Taxation and RPPT are very excited about this joint meeting and the opportunities it presents to enhance CLE for Section members who share many common legal interests. Join us and take advantage of the opportunity to meet with the country's leading attorneys and government officials to discuss the latest initiatives, regulations, legislative forecasts, and planning ideas.

4th Annual Section of Real Property, Probate & Trust Law Networking Reception & Luncheon
Don't forget to order your ticket(s) for the 4th Annual Section of Real Property, Probate & Trust Law Networking Reception & Luncheon (SDR2). This year we will explore the TOP TEN LIES ABOUT DIVERSITY: Things People Misunderstand Most About Diversity in the Profession. The reception and luncheon will be held Saturday, August 9, 2003 at 12:30 p.m. at the Hyatt Regency San Francisco, CA. The moderator will be our very own Kevin L. Shepherd. The speakers include: Laura V. Farber, Immediate Past Chair of the ABA Young Lawyers Division, Robert J. Grey, Jr., President-Elect Nominee American Bar Association, and our Immediate Past Chair, David K.Y. Tang. You don't want to miss this!

States Move to Embrace MJP Reform
During the past several years, the Section has actively advocated Model Rule changes that would decrease the barriers to the multi-jurisdictional practices of real estate, probate and trust law lawyers, which culminated in the ABA's 2002 revision of Model Rule 5.5 on multi-jurisdictional practice and the related amendments to Model Rule 8.5 on disciplinary authority in cases of cross-border practice. To date, several states (Delaware, Colorado, Nevada, North Carolina, Arizona, South Dakota and Arkansas) have endorsed proposed changes to their bar rules that largely track the ABA models for Rules 5.5 and 8.5, and California, Minnesota, Illinois, Florida, New York and Montana are expected to soon pass similar reforms.

Study on Faculty Teaching Property at Law Schools
The Section has commissioned a study on the number of full-time faculty teaching property at law schools, as a result of concerns expressed by real property members that law schools are not teaching real property courses with full-time faculty, are not hiring or promoting faculty members with a real property focus and are lessening the requirements for real property classes in the curriculum. If less importance is being placed on real property in law schools, members believed that fewer law students would be interested in practicing in the real property area. The initial data collected may indicate support for some of these concerns. Section leadership will be further evaluating the data to determine what additional research may be warranted.

Uniform Laws
Prior bulletins have highlighted the significant efforts of RPPT members to shape uniform laws. A current listing of model laws under consideration by NCCUSL can be found at www.abanet.org/rppt/cmtes/rp/a5/home.html.

USA Patriot Act and Real Estate Transactions
The Section has submitted extensive comments to the Treasury Department in regard to the Department's proposed rulemaking on the phrase, "persons involved in real estate closings and settlements," which is an activity defined as a "financial institution" required by the Act to establish anti-money laundering programs. The comments were prepared by members Edward Brading, Michael D. Goler, Mark F. Mehlman, Timothy E. Powers, Kevin Shepherd, Shannon J. Skinner, and Susan Talley and have been posted on our web site at www.abanet.org/rppt/section_info/patriotact/abacommentletter6-03.pdf.

The Task Force on Transfer Tax Reform
The Task Force on Transfer Tax Reform, consisting of representatives from the Section of Real Property, Probate & Trust Law, Section of Taxation, the American College of Trust and Estate Counsel, the American College of Tax Counsel, the AICPA, and the American Bankers Association, is nearing completion of its Report. The Task Force Report will discuss issues arising under (1) present law (a long phase-out, a one-year repeal, and reverting to prior law), (2) carryover basis and the retention of the gift tax system, (3) the existing federal estate, gift and generation-skipping tax system, and (4) alternatives to a transfer tax system. The Task Force intends to submit its Report to the Board of Governors of the American Bar Association following approval by the governing bodies of the Real Property, Probate & Trust Law and the Section of Taxation. The Task Force Report will be available to our members and the public when it is finished. In addition, the Task Force plans to make presentations about the Report to various interested groups.

Members of the fellows class of 2003-05 are Kalimah White of Wilmington, Delaware; Laura Takasumi of Vancouver, Washington; Megan Proulx, of Tampa, Florida; and Kellye Curtis Clarke of Alexandria, Virginia. The appointment is for a period of two years. The section has designed the program to encourage participation in the Section's work by minorities by designating two of the fellowships for minorities.

Each fellow has been assigned to Section committees and will have a mentor to work with during his or her years as a fellow.

For more information about the fellows program or nominations for next year's fellows class, please contact Steve Gorin at 314/552-6151 or sgorin@thompsoncoburn.com

Committee Spotlight, check out:
Life Insurance Company Investments, Committee J-4
Attorneys representing (1) life insurance companies, (2) clients who borrow from, sell to, buy from, lease from, participate with, joint venture with, or manage or lease real estate for life insurance companies.

Life insurance companies have played a significant role in real estate investments in the USA. Learn what is unique about life insurance company real estate investments;
meet in-house life insurance company real estate lawyers; explore the impact of state insurance laws and regulations on real estate investment; and investigate the special role of life insurance company separate accounts in real estate investments.

To join this committee, and/or others, please visit: www.abanet.org/rppt/join_us/comregfo.html

National Health Care Decisions Week
Linda Whitton has continued the Section's significant outreach efforts to provide educational materials on health care decisions to state and local bar associations and community organizations. Program details are located at www.abanet.org/rppt/nhcdw.

The Health Care Decisions Committee has posted a Spanish version of its organ donor brochure titled "Un Legado de Vida" on its web site www.abanet.org/rppt/cmtes/pt/e3/hcdw/home.html.

Check out our most recent publications:

The Commercial Office Lease Handbook:
New York Model Clauses and Commentary
Author: Lawrence Eisenberg, Jonathan Mechanic, David Alan Richards
Product Code: 5430440
RPPT member price: $129.95
Regular (nonmember) price: $139.95

An Estate Planner's Guide to Family Business Entities:
Family Limited Partnerships, Limited Liability Companies, and More,
Second Edition
Author: Louis A. Mezzullo
Product Code: 5430444
RPPT Member Price: $89.95
Regular (nonmember) price: $99.95

Third-Party and Self-Created Trusts, Third Edition
Author: Clifton B. Kruse, Jr.
Product Code: 5430436
RPPT member price: $99.95
Regular (nonmember) price: $119.95

An Estate Planner's Guide to Buy-Sell Agreements for the Closely Held Business
Author: Louis A. Mezzullo
Product Code: 5430424
RPPT member price: $79.95
Regular (nonmember) price: $94.95

To check out our complete library of publications or to order online, you can visit www.abanet.org/rppt/publications/books/. To order by phone, please call 800.285.2221.

Upcoming Events

July 28 - 31
Skills Training for Estate Planners (STEP)
Emory University School of Law
Atlanta, GA

August 7 - 13
ABA Annual Meeting
Hyatt Regency Embarcadero
San Francisco, CA

September 11 - 13
RPPT/Taxation Joint Fall CLE Meeting
Sheraton, Chicago

May 12 - 14, 2004
15th Annual Symposia
Grand Hyatt
Seattle, Washington

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