Trust Administration and Taxation
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Original author Joseph L. Wyatt, Jr., was an attorney who practiced law for over 50 years. Trust Administration and Taxation is a well-documented, practical text on the establishment, administration and taxation of trusts, covering revocable living trusts, charitable remainder trusts, and more.
The environment, retirement, investment devices, family relationships, and business relationships all find uses for trusts and for the principles of trust law. Accordingly, the range of topics covered by this product, which is designed for practical use, continues to expand--in public law as well as private law.
A few of the topics covered in this product include:
• Revocable living trusts
• Charitable remainder trusts
• Pension and profit-sharing trusts
• Trustee's responsibilities
• Beneficiary's rights to principal and income distributions
• Rights of creditors
• Periodic and final accountings
• State and federal taxation of trusts and beneficiaries
Drafting suggestions, sample documents and forms are included throughout the work.
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Table of contents
PART I: EXISTENCE, VALIDITY AND INTERPRETATION
Chapter 1: Nature, Uses, and Purposes of Trusts
Chapter 2: Validity--Certainty
Chapter 3: Validity--Charitable Trusts
Chapter 4: Validity--Transfer to Trustee and Duties
Chapter 5: Validity--Settlor’s Reservation of Rights
Chapter 6: Validity--Perpetuities, Restraints on Alienation and Other Time Limits
Chapter 7: Accumulations and Income Undisposed of
Chapter 8: Validity--Conditions Imposed by Settlor
Chapter 9: Validity--Miscellaneous Matters
Chapter 10: Multi-State Trusts: Conflict of Laws
Chapter 11: Interpretation and Construction of Trust Instruments
Chapter 12: Interpretation--Effect of Decrees of Distribution
Chapter 13: Public Employee Retirement Systems: A Special Kind of Trust
Chapter 14: Special Types of Trusts
PART II: RIGHTS OF SETTLOR AND BENEFICIARIES—PRINCIPAL AND INCOME
Chapter 15: Successive Beneficiaries’ Rights Inter Se--Principal and Income Items
Chapter 16: Principal and Income (Cont.) The Element of Time--Right to Income as Between Successive Interests
Chapter 17: Principal and Income (Cont.) When Right to Income Begins
Chapter 18: Principal and Income (Cont.) Expenses--Depreciation
Chapter 19: Principal and Income (Cont.)--Certain Miscellaneous Matters
PART III: RIGHTS OF SETTLOR AND BENEFICIARIES GENERALLY
Chapter 20: Rights and Liabilities Generally of Beneficiaries
Chapter 21: Right of Settlor or Beneficiaries to Revoke or Otherwise Terminate Trust--Power of Amendment
Chapter 22: Termination of Trust Through Acceleration of Remainders--Acceleration Generally
Chapter 23: Nature of Beneficiary’s Rights Under Trust, and in Trust Property
PART IV: RIGHTS AND LIABILITIES OF THIRD PERSONS
Chapter 24: Rights of Creditors of Settlor and Beneficiary
Chapter 24A: Asset Protection Trusts
Chapter 25: Rights and Liabilities of Persons Dealing with Trustees--Liabilities of Trustees, Trust Estate and Beneficiaries on Trust Obligations
PART V: RIGHTS, POWERS, DUTIES, AND LIABILITIES OF THE TRUSTEE
Chapter 26: Who May Be a Trustee--Capacity--Tenure--Succession
Chapter 27: Duties of Trustees
Chapter 28: Powers and Duties of Trustees--(Cont.) Various Powers
Chapter 29: Powers and Duties of Trustees (Cont.) Investments
Chapter 29A: Environmental Responsibilities of Fiduciaries
Chapter 30: Loss of Beneficiary’s Rights Against Trustee for Breach of Duty
Chapter 31: Trustees Under Corporate Trust Indentures
Chapter 32: Trustee’s Rights and Liabilities
PART VI: ACCOUNTINGS AND ACTIONS
Chapter 33: Effect of Orders Settling Accounts
Chapter 34: Actions by or Against Trustees
Chapter 35: Trustee’s Powers--Construction, Enlargement, Deviation
PART VII: POWERS OF APPOINTMENT
Chapter 36: Powers of Appointment
PART VIII: PROBLEMS OF TAXATION AFFECTING TRUSTS
Chapter 37: Considerations Affecting Adjudication of Tax Matters
Chapter 38: Estate Tax--Property Included in the Gross Estate
Chapter 38A: Generation-Skipping Transfer (“GST”) Tax
Chapter 38B: Special (Intrafamily) Transfer Valuation Rules
Chapter 39: Estate Tax--Exemptions, Credits and Deductions
Chapter 39A: The Marital Deduction
Chapter 40: Gift Tax--What Constitutes a Taxable Gift
Chapter 40A: Taxation of Younger Minors’ Income
Chapter 41: Gift Tax--Credits, Exemptions, Deductions
Chapter 42: Income Taxation of Trusts and Estates
Chapter 42A: Income Taxation of “Grantor Trusts”
Chapter 42B: Income Taxation of Foreign “Grantor” Trusts
Chapter 43: Income Taxation of Estates and Trusts: Exclusions, Credits and Deductions
Chapter 43A: Income Taxation of Estates and Trusts: Deductions Which Must Be Allocated Between Fiduciary and Beneficiary
Chapter 43B: Income Taxation of Estates and Trusts: Charitable Deductions
Chapter 44: Income and Deductions in Respect of Decedents
Chapter 45: Exempt Trusts--Employee Benefit Trusts and Plans: Fiduciary Duties
Chapter 46: Other Exempt Trusts
Chapter 47: Trustees’ Liabilities to Pay Others' Federal Taxes: Liens
Chapter 48: State Inheritance and Estate Taxes
PART VIII: PROBLEMS OF TAXATION AFFECTING TRUSTS
Chapter 49: Who Bears the Burden of Death Taxes
Chapter 50: The Conflict of Laws Between States in Taxation of Trusts
Chapter 51: Trust Litigation Patterns; Initial Communications With Attorneys
Chapter 52: Arrangements Between Attorney and Client: Scope; Compensation; Expenses
Chapter 53: Alternative Dispute Resolution (“ADR”) for Trusts
Chapter 53A: Planning the Tax Consequences of Trust Dispute Settlements
Chapter 54: Prelitigation Notices, Requests, Claims and Demands
Chapter 55: Preliminary Investigation Before Court Proceedings
Chapter 56: Trial--By Jury or By Court
PART IX: TRUST FORMS
Topical Index of Forms