Section News
Section Name Change
The name of the Section of Real Property, Probate and Trust Law (RPPT) has been changed to the Section of Real Property, Trust and Estate Law (RPTE). The two divisions will be Real Property Law (RP) and Trust and Estate Law (TE). The reason for the name change is the industry’s decreased use of the word “probate” when referring to trust and estate law. The ABA House of Delegates approved the name change on August 13th at the ABA Annual Meeting. Look for our new Section name and logo on all upcoming materials!
2007 Joint Fall CLE Meeting
Mark your calendars for the Section’s Joint Fall CLE Meeting sponsored with the Section of Taxation. It will be held in Vancouver, BC, Canada, September 27-29, 2007. You will have the opportunity to network with the country’s leading lawyers, government officials, RPPT and Taxation Section members and guests. You can earn valuable CLE credits, too. For more information about the Joint Fall CLE Meeting click here.
The Qualitech Report
In the last issue of eREPORT, Pat Mears reported on the Section's efforts regarding the decision of the Seventh Circuit Court of Appeals in Precision Industries, Inc v. Qualitech SBQ, LLC, 327 F.3d 537 (7th Cir. 2003). The Section submitted to the ABA House of Delegates for consideration and adoption at the Annual Meeting a Report and Recommendation that the ABA urge Congress to amend Section 363(f) of the Federal Bankruptcy Code, in effect to overturn Qualitech. Click here for more information.
Articles
Real Property News
CLOSING PROTECTION LETTERS - WHAT IS (AND IS NOT) COVERED?
By John C. Murray
Is yourclosing protection letter protecting you? Jack Murray explores what is (and is not) covered by title agent closing protection letters.
By John W. Brooks
and Roberta Vassallo
A final determination as to whether and how government agencies will implement the Gatekeeper Initiative in the United States remains pending. As a result, U.S. attorneys who handle international and cross-border transactions are being caught in the cross-fire of responding to extra-territorial legal requirements which are often in conflict with their attorney-client obligations of confidentiality. John Brooks and Roberta Vassallo provide some guidance in this timely article for attorneys with multi-jurisdictional practices.
This article originally appeared in International Lawyer, Volume 41, No. 1, Spring 2007.
Probate and Trust News
NEW PROPOSED REGULATIONS ON IRC §2036 AND §2039 INCLUSION
UPDATE ON PATENTING TAX ADVICE
SPLIT-INTEREST TRUST RESULTS IN DENIAL OF CHARITABLE DEDUCTION
By Jim Roberts
Jim Roberts reports on three significant developments. First, he provides an update on the ongoing battle over patenting tax planning methods. Opposition to the technique gained ground when the House Judiciary Committee passed amendments to patent statutes that would deny patents to tax planning methods. Jim then reports on new proposed IRS regulations that provide guidance in determining what portion of a trust is includible in a Settlor’s estate under Sections 2036 and 2039; the calculation is based on the Settlor’s income stream and the applicable Section 7520 rate. Finally, Jim reports on a Third Circuit case, Galloway v. United States. There, the unfortunate result of applying Section 2055(e), meant to prevent abuse of split interest trusts by non-charitable beneficiaries, was the denial of a charitable deduction for a trust that had little chance of abuse, but that failed to meet the requirements of 2055(e).
CLE Spotlight
Real Property CLE
Essential Issues in Commercial Real Estate Law Teleconference Series is an expanded version of the popular Young Lawyer Institute held in April 2007, in Washington, D.C. The series consists of six live teleconferences that will cover a broad-range of topics that are critical to a successful commercial real estate transaction. The series is recommended to new attorneys and seasoned attorneys looking for a refresher, and it may be purchased as a package or on an individual topic basis. The first program will air on October 11.
Click here for more details on the Essential Issues in Commercial Real Estate Law Teleconference Series.
Oct. 11th - Dec. 6th
- Teleconference
The Essential Issues in Trust and Estate Law Series provides attorneys with the opportunity to learn more about the key basics of trust and estate law. Whether you are a new attorney wanting to know more about trust and estate law, or a seasoned attorney looking for a refresher, this series has the information you need.
Click here for more information on the Essential Issues in Trust and Estate Law Series.
Aug. 14th - March 19th
- Teleconference
August 2007
Technology and Practice Management
Awaken the Marketer in You
By Ned Steele
Erase the misconceptions that effective marketing requires your interest and skill in the field, and that small practices cannot compete with bigger firms on marketing. By using your professional knowledge, expertise and personal values, you can build your own expertise marketing plan.
This article originally appeared in the May 2007 issue of Law Practice Today.
For Young Lawyers
RPPT Announces New Fellows!
RPPT welcomes a new class of young lawyer fellows.
Click here to meet our new fellows!
For Law Students
Law Student Writing Contest Winners
RPPT announces law student writing contest winners for 2007-2008.
Click here for the winners!
RPPT Law Student Reception in Chicago
The ABA Section of Real Property, Probate & Trust Law is sponsoring a reception for all law students seeking careers in real property, trust or estate law.
Click here for more information on the Law Student Reception.
New RPPT Book
Charitable Gift Planning: A Practical Guide for the Estate Planner, Second Edition
By Thomas J. Ray, Jr.
Thomas J. Ray, Jr. has updated and revised his bestselling desk book, Charitable Gift Planning, to explain the impact of the Pension Protection Act and the Tax Reform and Health Care Act of 2006 on all aspects of charitable gift planning. As with the first edition, this is a truly practice-focused book.
Click here to purchase the book or learn more.
Group and Committee News
Probate and Trust
The Estate and Gift Tax Committee has submitted comments to the IRS on determining the amounts deductible under Section 2053. Click here to view the comments.
The Charitable Planning and Organizations Group has submitted comments to the House Ways and Means Committee on provisions relating to tax-exempt organizations in the Pension Protection Act of 2006. Click here to view the comments.
Real Property
The Mortgage Lending Committee has been active in keeping its members informed on current events and in presenting programs on relevant topics. The primary vehicle for updating members has been the Committee’s website. Click here for more information on the Mortgage Lending Committee.
Are you interested in U.S. Supreme Court decrees and decisions regarding hot topics in environmental law, such as green building, climate change, sustainable development and more? Access the environmental law program materials from the August 2007 ABA Annual Meeting here.
Printable Versions
Now you can print out the RPPT eReport to read offline. Available in three versions:
- All articles and columns
- Real Property Articles only
- Probate and Trust articles only
About RPPT eReport
The RPPT eREPORT is the bi-monthly electronic publication of the RPPT Section. It includes practical information for lawyers working in the real property and estate planning fields, together with news on Section activities and upcoming events. RPPT eREPORT also provides resources for young lawyers and law students to succeed in the practice of law. For further information on RPPT eREPORT or to submit an article for publication, please contact: Susan Talley (Editor) at stalley@stonepigman.com; Cheryl Kelly (Real Property Editor) at CKELLY@thompsoncoburn.com; Robert Steele (Probate and Trust Editor) at steele@whafh.com; or Michael Goler (Managing Editor Emeritus) at Goler@MillerGolerFaeges.com. We welcome your suggestions and submissions.
The materials contained herein represent the opinions of the authors and editors and should not be construed to be those of either the American Bar Association or The Section of Real Property, Probate and Trust Law unless adopted pursuant to the bylaws of the Association. Nothing contained herein is to be considered as the rendering of legal advice for specific cases and readers are responsible for obtaining such advice from their own legal counsel. These materials and any forms and agreements herein are intended for educational and informational purposes only. The authors and other contributors to RPPT eREPORT are solely responsible for the content of their submissions, including the accuracy of citations to legal resource materials.
