Book Details

Flexible Trusts and Estates for Uncertain Times, Fourth Edition

By Jerold I. Horn

  • ORDER HARD COPY: 2010
  • Softcover
  • 672 pp.
  • ISBN: 978-0-8318-9979-0
  • Order Code BK73
  • $24.00
  • ONLINE: 2010
  • Online
  • 672 pp.
  • $24.00

 

 

The next best thing to certainty!

 

Jerry Horn was drafting flexible and sophisticated estate planning documents long before EGTRRA turned estate planning on its head.

Completely updated and expanded Flexible Trusts And Estates For Uncertain Times, Fourth Edition will help you get your clients through the “estate tax/no estate tax/estate tax but…” world planners find themselves in.

More than 155 sample forms (and many alternative variables)

Wills

Revocable trusts

Irrevocable trusts

Powers of attorney for property management and for health care and beneficiary designations.

  

Editable electronic versions of the forms and documents are FREE to book purchasers!

 

More than 155 sample forms (and many alternative variables) and 19 complete documents including wills, revocable trusts, trust and estates law documents, irrevocable trusts, powers of attorney for property management and for health care and beneficiary designations.

A one-of-a-kind guide on how to use beneficially-interested trustees, such as family members, and independent trustees, such as independent individuals and corporations.

Comprehensive advice on how to craft flexible estate planning documents and cope with uncertainties of the future.

Overview

 

In Flexible Trusts and Estates for Uncertain Times, Fourth Edition, Jerry Horn defines estate planning objectives, describes the climate of uncertainty, identifies planning problems, and suggests solutions. He covers the interregnum of 2010—where there is no estate tax, but plenty of estate planning problems—by offering you specific drafting techniques to overcome the uncertainty this bizarre legislative construct.

 

Flexible Trusts and Estates for Uncertain Times, Fourth Edition, will help you to:

Draft estate plans to anticipate and withstand the drastic changes in the law, including the 2010 repeal and 2011 restoration of the estate tax and the generation-skipping tax and the implementation and repeal of a system of carryover basis for income tax purposes

Facilitate increases in income tax bases

Rearrange ownership of assets to permit use of exemptions

Salvage otherwise-unusable exemptions

Choose and change powers, interests and trustees to accommodate different and changing situations

Optimize the use of independent and nonindependent trustees

Provide for addition of an independent trustee that can use powers which a nonindependent trustee cannot possess

Maximize flexibility in selection and succession of trustees

Select dispositive provisions, including discretionary, annuity and unitrust (including Give Me-Five) interests, that permit investing for total return

Allocate investment duties among trustees and others consistently with the prudent investor rule

Undertake qualified severances of trusts that have potential liability for generation-skipping tax

Use testamentary powers of appointment to attract trust and estates law tax and avoid generation-skipping tax

Understand and create inter vivos QTIP trusts

Apportion death costs consistently with tax efficiency and preservation of preferred assets

Benefit disabled persons and protect against creditors

Transfer assets with discounts in value

Accommodate use of Code Section 2032A

Defer income tax upon qualified plan and IRA interests that are payable to trusts

Integrate dispositions that are exempt and nonexempt for generation-skipping purposes

Exercise powers of appointment without falling into the Delaware Tax Trap

Understand grantor-trust implications of dispositive and other provisions

 

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About the Author

Jerold I. Horn practices law in Peoria, Illinois. He is a graduate of Princeton University (A.B., summa cum laude) and Yale University Law School. He is a Fellow and Past President of the American College of Trust and Estate Counsel, a Fellow of the American College of Tax Counsel, an Academician of the International Academy of Estate and Trust Law, a member of the American Law Institute, and a former Visiting Adjunct Professor at the University of Miami Law School. He has written numerous articles about estate planning, authored Planning and Drafting for the Generation-Skipping Transfer Tax (ALI-ABA 2d ed. 1994), co-authored Drafting Wills and Trust Agreements (Ill. Inst. Cont. Leg. Ed. 1990), and lectures frequently at tax planning institutes and continuing education programs.

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Table of Contents

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Abbreviated Table of Contents

Chapter 1 Introduction
Chapter 2 The Chief Uncertainties
Chapter 3 The Building Blocks For Payments To Beneficiaries
    Subchapter A: Primary Beneficiaries: Mandatory Payments ?
    Subchapter B: Other Beneficiaries: Discretionary Distributions: Nonindependent Person Possesses Nonfiduciary Discretion (Powers of Appoinment)
Chapter 4 Sheltering Of Exemptions: Methods, Amounts And Adjustments
Chapter 5 Increase Of Basis During Repeal
Chapter 6 Configurations
Chapter 7 Allocation Of Death Costs
Chapter 8 Special Dispositive Provisions
Chapter 9 Avoiding And Attracting Grantor-Trust Treatment
    Subchapter A: Excluding Income From Gross Income Of Grantor
    Subchapter B: Powers And Interests That Cause Inclusion In Gross Income But Not In Gross Estate
Chapter 10 Accommodation Of Special Assets
Chapter 11 Inter Vivos Marital Dispositions
Chapter 12 Integration Of Exempt And Nonexempt Dispositions
Chapter 13 Perpetuities And Power-Of-Appointment Issues
Chapter 14 Trust Management
Chapter 15 Conclusion

 

FORM #1     Revocable Trust. Settlor is a widower.
FORM #2     Will. Companion to Form #1.
FORM #3     Revocable Trust. Settlor is married.
FORM #4     Will. Companion to Form #3.
FORM #5     Revocable Trust. Settlor is married.
FORM #6     Will. Companion to Form #5.
FORM #7     Revocable Trust. Settlor is married.
FORM #8     Will. Companion to Form #7.
FORM #9     Revocable Trust. Settlor is married.
FORM #10   Will. Companion to Form #9.

II. OTHER REVOCABLE DOCUMENTS
FORM #11     Power of Attorney for property management. Principal is married.
FORM #12     Power of Attorney for health care. Designed to promote ultimate flexibility.
FORM #13     Beneficiary Designation for individual retirement account. Owner is married.

III. IRREVOCABLE TRUSTS
FORM #14     Irrevocable Trust. Settlor is divorced.
FORM #15     Irrevocable Trust. Settlor is married.
FORM #16     Irrevocable Trust. Settlor is married.
FORM #17     Irrevocable Trust. Code Section 2503(c) Trust.
FORM #18     Irrevocable Trust. Code Section 2642(c) Trust.
FORM #19     Irrevocable Trust. GST-exempt, dynasty-style trust.

Index Of Subjects

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