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About the Book
Understand the substantive rules and policies of the law of wills, trusts, and estates, and how to apply them in practice. This practical guide to the law of donative transfers takes you through the maze of terminology, rules, and policies raised by wealth transfers. It discusses how estate planners use these various tools and leads you through the process of applying them in an estate planning practice.
In clear and concise language, this book covers the essentials of wills, trusts and estates, including: how property passes when a decedent dies without a will; requirements to validly execute a will; grounds for contesting a will; revocation, interpretation, and construction of wills; will substitute property transfers; limits on the freedom of property owners to dispose of property; the creation and operation of trusts; powers of appointment; and future interests as used in wills and trusts. It also covers the Rule Against Perpetuities, duties of fiduciaries who administer estates and trusts, planning for incapacity, ethics for estate planners, wealth transfer taxation, and the income taxation of trusts, estates, grantors, and beneficiaries. In most instances the relevant statutory and common law rules and policies for resolving wealth transfer disputes are addressed, along with the planning implications that these controversies raise. Affirmative planning responses and other planning considerations are also discussed
Summary Table of Contents
Chapter 1. Introduction to Property Transfers at Death Chapter 2. Intestacy Chapter 3. Will Execution Formalities and Contest Chapter 4. Revocation Chapter 5. Will Contracts Chapter 6. Will Substitutes Chapter 7. Interpretation: What the Decedent Intended Chapter 8. Construction: Lapse and Class Gifts Chapter 9. Construction: Ademption, Abatement, Accessions, and Exoneration Chapter 10. Restrictions on Disinheritance: Pretermission, Elective Shares, and Community Property Limits on the Power of Disposition Chapter 11. Introduction to Trusts Chapter 12. Trust Creation Chapter 13. Trust Operation Chapter 14. Powers of Appointment Chapter 15. Future Interests Chapter 16. Planning for Incapacity Chapter 17. Rule Against Perpetuities Chapter 18. Fiduciary Administration Chapter 19. Wealth Transfer Taxation Chapter 20. Income Taxation of Trusts, Estates, Grantors, and Beneficiaries Chapter 21. Ethics and Malpractice Issues Tables - Table of Cases; Table of IRC Sections and Treasury Regulations; Table of Model Rules and Uniform Codes: Table of Restatements of the Law