ESTATE PLANNING UPDATE

Please join Steve R. Akers, Fiduciary Counsel, for a webcast discussing the status of estate tax legislation and important recent case law developments. Topics will include:

Estate and Gift Tax Legislation
Status of Senate negotiations; revenue offsets (including prospects for GRAT 10-year minimum term and §2704 tightening); realistic possibility (some say probability) of no legislation in 2010.
Holman (8th Circuit)
Application of §2703 to transfer restrictions in partnership agreements for investment partnerships and for buy-sell agreements generally.
Erosion of the “hypothetical” willing buyer/willing seller valuation standard.
Pierre II
Application of the step transaction doctrine to aggregate gifts and sales for valuation purposes and concerns about possible extensions of the step transaction doctrine.
Ludwick
Approach for determining undivided interest discounts for 50% interest in vacation home.