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.

First published in 1946.

4 Volumes, loose-leaf, updated twice per year.

Authors / Contributors

Table of Contents

VOLUME 1



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



VOLUME 1A



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



VOLUME 2



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



VOLUME 3



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

Index