Section News
Join the RPTE Section of as we hold our 18th Annual Spring Symposia May 1-2 in Washington D.C. Noted speakers and experts in the fields of real estate and estate planning will lead programs on current issues and hot topics. All sessions will be held at the Park Hyatt and Fairmont hotels. Take this opportunity to earn CLE credit while networking with colleagues and learning about the Section's activities and news. Come explore the great city of Washington D.C.!
On-site registration will be held from 1:00 to 5:00 p.m. on April 30 and from 7:00 a.m. to 5:00 p.m. on May 1 and 2 at the Section desk at the Fairmont Hotel. For more registration details visit www.abanet.org/rppt/2008. For more program information, click here.
NEW CHANGES TO IRC RULES ON VACATION-SECOND
HOMES AND 1031 EXCHANGES
By Stephen Wayner
A 1031 exchange may allow a taxpayer to shield from taxes gain on the conveyance of a vacation home. A new Revenue Procedure clarifies when a vacation home will constitute property held for productive use in a trade or business or for investment, so as to qualify for a 1031 exchange. In his article, Stephen Wayner provides guidance on this new Revenue Procedure.
REAL ESTATE TRANSFER ON DEATH DEEDS
By Dennis Horn
The National Conference of Commissioners on Uniform State Laws (NCCUSL) has appointed a Drafting Committee to propose uniform legislation to authorize transfer on death deeds of real property. The Section has appointed Dennis Horn as our ABA Section Advisor and an ABA Advisor to the NCCUSL Drafting Committee. Dennis has provided an initial report on the committee and invites comments from Section members.
PROTECT YOUR PET’S FUTURE
PET TRUSTS AND PET PROTECTION AGREEMENTS
By Rachel Hirschfeld
Mirowski v. Commissioner
By Steve Akers
T.C. Memo. 2008-74; Court Rejects IRS’s §§2036(a)(1), 2036(a)(2), 2038, and 2035 Arguments
Supreme Court Rules Participants & Beneficiaries Can Sue Fiduciaries Under ERISA §502(a)(2) To Recover 401(k) & Other Defined Contribution Account Losses: “Entire Plan Rule” Limited To Plans With Fixed Benefit Formula
By Cynthia Marcotte Stamer
First Report to the ABA of the Proceedings of the NCCUSL Drafting Committee on the “Insurable Interests Relating to Trusts” Uniform Act
By David Neufeld
The National Conference of Commissioners on Uniform State Laws (NCCUSL) has appointed a Drafting Committee to propose amendments to the Uniform Trust Code to address the issue of whether life insurance trusts have an insurable interest in the life of the insured person. The scope does not extend to revising what is an insurable interest, but rather to adapt trusts to the existing law.
Would you like to write an
article for the eReport?
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.
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Technology
Online Collaboration Tools:
Smarter Ways to Work Together
By Tom Mighell
Collaboration has always been a necessary aspect of a lawyer’s practice. Now there are tools to collaborate electronically. Click here to learn about tools to make your practice more productive.
Upcoming CLE Programs
Trust and Estate cle
Frying Pans and Fires? Or Prospects Not So Dire?: Hot Topics in Family Limited Partnerships
Date: Thursday, May 1, 2008
Time: 10:45 a.m. to 11:45 a.m. Eastern
Place: Fairmont Hotel - Ballroom II
Real Property cle
Has the Earth Stopped Shaking? The State of the Commercial Financing Markets Since the Subprime Meltdown
Date: Friday, May 2, 2008
Time: 1:45 p.m. to 3:15 p.m. Eastern
Place: Fairmont Hotel - Executive Forum Room
Group & Committee News
Trust and Estate
Commission on Law and Aging
The ABA Commission on Law and Aging is seeking funding from the ACTEC Foundation, the Uniform Law Commission Foundation and the RPTE Section for outreach and education on the Uniform Adult Guardianship and Protection Proceeding. The proposal will be reviewed at the Trust and Estate Subcouncil meeting in Washington, D.C. on May 3, 2008.
American College of Trust and Estate Council (ACTEC)
ACTEC Comments in Response to the Advanced Notice of Proposed Rulemaking Regarding Guidance on Qualified Tuition Programs Under Section 529.
Charitable Planning Committee
Charitable Planning Committee Comments on Regulations and Other Guidance to be Issued in Response to the Pension Protect Act Provisions Affecting Supporting Organizations.
Real property
Land Use & Zoning Committee
The Land Use & Zoning Committee will presenting the program, "Dark Sky Over America: Light Pollution and Workable Solutions" at the 2008 Spring Symposia.
Mortgage Lending Committee
On March 14, 2008, HUD published for public comment its proposed changes to the Real Estate Settlement Procedures Act. Thanks to Section Fellow Katya Gill of Montgomery, Alabama for this link and materials. Click here for more details.
Young Lawyers
While at the Spring Symposia, join the Young Lawyer Network for fabulous dining and night-life! Let YLN coordinate your "Dine-A-Round" evening at fine or casual dining spots near your hotel. Click here for more information.
Become involved in the substantive work of the RPTE Section by applying for the Fellows Program! Do not miss out. The deadline is June 20th. For more details click here.
Law Students
Don't miss out on your opportunity to be recognized! The June 20th deadline for the Law Student Writing Contest is approaching fast!
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