Basic Estate Tax Planning, 2008 Edition (12/2008)
Editor: Prof. Angela M. Vallario; Contributing Authors: Michael P. Donnelly, Esq.; Frederick R. Franke, Jr., Esq.;Jeffrey S. Glaser, Esq.; Julie E. Goodwin, Esq.; Hugh A. Mitchell, Esq.; Mary Alice Smolarek, Esq.

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This new 2008 Edition offers updated references to case law, statutes, rules, and regulations. There is a completely new discussion of durable powers of attorney, irrevocable insurance trusts, and revocable trusts and their tax consequences. In 2006, Basic Estate Tax Planning was completely restructured and updated. All six chapters were expanded and re-sequenced. The topics within each chapter were rearranged to make the concepts clearer and the book much more user-friendly. The new 2008 Edition of Basic Estate Tax Planning features new forms and sample clauses throughout, as well as current exemption equivalents, annual exclusions, and federal and Maryland tax rates. In 2006, the authors added new planning considerations that flow from the decoupling of the Maryland estate tax from the federal estate tax, including guidance on solving the problems posed by Maryland’s estate tax and the complexities of its interaction with the federal state death tax credit, when the underlying rules no longer exist for federal estate tax purposes. There is much practical information and an abundance of drafting suggestions and sample provisions, including the use of marital bequests and trusts and the new Maryland QTIP. A companion CD-ROM of the forms is available with the book.

The first chapter on basic principles and general planning considerations includes a section on terminology that defines crucial terms such as annual exclusion, carryover basis, credit shelter trust, exemption equivalent, qualified terminable interest property, power of appointment, and spendthrift clause. It also features a transfer tax summary table and a new sample advance medical directive. The new Edition replaced all of the tax planning forms and added a new deed of trust and demand right. Many other significant revisions appear throughout chapters two, three, four, five and six. Included within the comprehensive scope of the new 2008 Edition of Basic Estate Tax Planning are detailed discussions of revocable trusts, unified credit, taxable gifts, the Maryland Uniform Transfers to Minors Act, spousal election, credit shelter trusts and limitations on the surviving spouse’s interest in them, and the decoupling of the Maryland estate tax from the federal estate tax, and much more.

Basic Estate Tax Planning, 2008 Edition, includes:

Chapter 1: Basic Principles and General Planning Considerations
Chapter 2: Coordination of Asset Ownership Necessary to Implement the Overall Estate Plan
Chapter 3: Tax Planning
Chapter 4: Revocable Inter Vivos Trusts
Chapter 5: Inter Vivos Gifts
Chapter 6: Irrevocable Life Insurance Trusts
Table of Authorities, Table of Cases, Index

List of Estate Planning Forms, Provisions, and Samples included in Basic Estate Tax Planning, 2008 Edition (12/2008)

Residual Disposition (p. 4)

Power of Attorney (p. 10 – 11)

Advance Medical Directive (p. 12 – 14)

Tangible Personal Property (p. 22)

Revocation of Community Property Agreement (p. 23)

Sample Simultaneous Death Clause (p. 25)

Provision Precluding Funding of Marital Deduction Bequest with Nondeductible Interests (p. 47)

Marital Deduction Pecuniary Bequest (p. 53 – 54)

Credit Shelter Pecuniary Disposition (p. 57)

Standard Credit Shelter Trust Terms (p. 58)

Fractional Share Formula Disposition (p. 61)

Personal Representative Shall Have Absolute Discretion (p. 62)

Minimum Worth Funding Provision (p. 64)

Standard QTIP Marital Trust Funding Formula (Marital Deduction
Pecuniary Trust) (p. 79 – 80)

Co-Trustee Shall Not Participate in Decision Regarding Discretionary Payment to/for His Benefit or the Benefit of Any Other Person for Whose Support Co-Trustee May Be Liable (p. 89)

State QTIP Trust to Be Carved Out Of The Credit Shelter Trust For State Estate Tax Purposes (p. 92 - 93)

Disclaimer by Spouse to Credit Shelter Trust (“Yuppie Will”) (p.95)

Crummey Withdrawal Rights (p. 126)

Deed of Trust (p.132 – 133)

Hanging Power (p. 135)

Irrevocable Trust (p. 140)

Life Insurance Policies and Proceeds of Policies (p. 141 – 142)

Power to Loan to or Purchase Property from Settlor’s Estate (p. 142)

Power to Appoint Successor Trustee (p. 146)

Contingent Marital Deduction (p. 149)

Assignment (p. 150 - 151)

Demand Right (p. 157)

Family Invasion Right (p. 158 – 159)

Audio tapes, CDs and DVDs are available.


Book only: Inv. #2609-08  Price: $89

Book & Forms CD: Inv. # 2613-08  Price: $109