Estate Planning (651-1)

Instructors

Kim Alison Kamin

Meeting Info

McCormick 185 - Sidley Hall: Mon 4:30PM - 6:20PM

Overview of class

This course will review the basics of the transfer tax system and then cover various estate planning techniques used by sophisticated tax practitioners to reduce or eliminate the transfer tax burden of transferring wealth and to implement a client's other estate planning goals. Subjects covered include: planning for the marital deduction; use of the gift, estate and generation-skipping transfer tax exemptions; annual exclusion and other lifetime gifts; planning for life insurance and retirement benefits; grantor trust planning -including sales to grantor trusts, installment notes, grantor retained annuity trusts and personal residence trusts; charitable planning, including with charitable lead and remainder trusts; business succession planning, asset protection planning, and the use of family co-investment companies. An examination of the efficacy of these techniques and a comparison of the advantages and disadvantages will be an integral part of this course. Fiduciary duties and powers and ethical issues in representing clients will also be carefully considered.

Evaluation Method

Self-Scheduled Closed-Book Final Examination and Optional Will-Drafting Exercise.

Class Notes

LLM tax course open to JD students, Tax Program Course, required class for Wealth Transfer and Legacy Planning Certificate

Class Attributes

JD Students May Enroll Only During Add/Drop
Family Law Practice Area in course
Trusts and Estates Prac. Area present

Enrollment Requirements

Enrollment Requirements: Basic Tax OR LLM Tax