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  • A Bi-Monthly Electronic Publication for Section Members
  • DECEMBER 2007

       Trust and Estate News            Real Property News

Real Property News

Recent Ohio Foreclosure Cases: Lenders Beware
By Stephen R. Buchenroth and Gretchen D. Jeffries

A series of recent decisions from federal courts in Ohio have alarmed foreclosure and securitization lawyers. Stephen Buchenroth and Gretchen Jeffries analyze the cases and the reasons for the decisions.

The Legal Reality of Virtual Real Property
By Nancy Grekin

Nancy Grekin covers an unusual case, enforcing an arbitration clause in a dispute over virtual real property. For a preview of what may come in the virtual world of real estate, read her article.

Behind All the Smoke: Are Laws Restricting the Right to Smoke in Condominiums, Townhomes and Apartments Really Necessary?
By Nancy Le

Efforts to ban smoking in private residential units are not all "smoke and mirrors". Section Fellow Nancy Le undertakes a thoughtful analysis of whether more regulation of smoking in private multi-family buildings is necessary in light of existing legal principles.

Multijurisdictional Real Estate Practice and Implementation of ABA Model Rules 5.5 and 8.5
By James Geoffrey Durham

Many real estate lawyers find themselves helping clients on deals in other jurisdictions, and natural disasters may require lawyers to cross borders. State rules on the unlawful practice of law may be traps for the unwary. Jim Durham summarizes the current state of the law on multijurisdictional practice.

 

Trust and Estate News

Hot Topics: Family Limited Partnerships
By Stephanie Loomis-Price

Stephan Loomis-Price offers a detailed outline of the Family Limited Partnership – from consideration of the FLP as an appropriate estate planning tool, through the formation of the partnership, concluding with the administration of the partnership and tax compliance issues.

Hot Topics: Qualified Severances for GST Tax Purposes - Final and Proposed Regulations issued August 2, 2007
By Julie Kwon

Julie Kwon thoroughly summarizes IRS Final and Proposed Regulations concerning the qualified severance of trusts for Generation-Skipping Transfer Tax planning purposes.

EMPLOYEE BENEFITS UPDATE
By Cynthia Marcotte Stamer

Cynthia Marcotte Stamer provides updates on three very timely and important issues facing Employee Benefits attorneys and their clients today.

Executives and Others Face Tough Tax Liability Unless Deferred Compensation Arrangements Are Timely Updated For New Internal Revenue Code Section 409A Compliance

IRS and Department Of Labor Issue Automatic Enrollment and Investment Guidance

Agencies Release 2007 Form 5500 Annual Report


Proposal to Prohibit Tax Planning Patents - S. 2369
By Rana Salti

Rana Salti keeps us up to date on the continuing saga of the patenting of tax planning devises. On November 15, 2007, legislation was introduced in the United States Senate that would prohibit the issuance of any patents for tax planning inventions.

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If you have something to say, and would like your article considered for the eReport, simply email Susan Talley, Editor, at stalley@stonepigman.com for further details.

Section News

Happy Holidays from the eReport Staff!

RPTE 19th Annual spring symposia and council meeting

Technology

New Taxation LL.M.s Available on the Internet Next Fall
By John C. McCaffrey

Upcoming CLE Programs

real property cle
Ethical Traps for the Unwary
Date: December 13, 2007
Type: Teleconference and Live Audio Webcast

trust and Estate cle
Introduction to Family Limited Partnerships - Part 5 of the Essential Issues in Trust and Estate Law Teleconference Series
Date: December 18, 2007
Type: Teleconference and Live Audio Webcast

 

Group & Committee News

real property
Mortgage Lending Committee
Among its activities, the Mortgage Lending Committee has been monitoring the Mortgage Reform Act that recently passed the House of Representatives, and the progress of the ACORD working group considering revisions to the current ACORD Form 28. For more on the committee's work, click here.

Practice Management - Pro Bono Committee
The Pro Bono Committee is undertaking a wills project to assist Habitat for Humanity homeowners with estate planning. Professor Carl Circo of University of Arkansas School of Law is heading up the project.

Click Here to Review the Project Handbook

trust and estate
TE Subcouncil Meeting Minutes
Fall Leadership Meeting
Minneapolis, MN - October 19, 2007

Income and Transfer Tax Planning Group
Supreme Court oral argument in the Rudkin case regarding amounts fully allowable as deductions for costs of estate and trust administration

Wealth and Non-Tax Estate Planning Group
Committees of the Wealth Planning and Non-Tax Issues in Estate Planning Group gave four presentations at the Fall 2007 Joint CLE Meeting with the Tax Section. The Committee will also be presenting five programs at the 2008 RPTE Spring Symposium.

Young Lawyers

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Law Students

Law Student chicago reception
The RPTE Section's first law student outreach program was a success! Learn More...

   
An Estate Planner's Guide to Qualified Retirement Plan Benefits

New Book from RPTE

An Estate Planner's Guide to Qualified Retirement Plan Benefits, Fourth Edition
Louis A. Mezzullo

This clearly written guide, now completely revised and updated, provides comprehensive, practical advice for the non-ERISA specialist on how to structure benefits from qualified retirement plans and IRAs to achieve maximum benefits for clients. This new edition reflects changes made by the Pension Protection Act of 2006 and the final regulations issued in April 2002 dealing with the required minimum distribution rules under Code § 401(a)(9), as well as many administrative pronouncements made since publication of the previous edition. The new edition also includes the appendices on an accompanying CD-ROM.
More....

FOR OFFLINE READING:
- PDF version - print the whole issue
- PDF of Trust and Estate articles only
- PDF of Real Property articles only

About RPTE eReport

The RPTE eREPORT is the bi-monthly electronic publication of the Real Property, Trust and Estate Law 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. RPTE eREPORT also provides resources for young lawyers and law students to succeed in the practice of law. For further information on RPTE 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 (Trust and Estate 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, Trust and Estate 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 RPTE eREPORT are solely responsible for the content of their submissions, including the accuracy of citations to legal resource materials.

 

 

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