Drafting Wills And Trusts

Based on a highly acclaimed UK title, DRAFTING TRUSTS AND WILL TRUSTS IN AUSTRALIA has been comprehensively adapted to provide authoritative guidance on drafting trusts and will trusts in eight Australian jurisdictions. Providing both a comprehensive range of precedents and a wealth of valuable advice, DRAFTING TRUSTS AND WILL TRUSTS IN AUSTRALIA cuts through verbosity and helps you to understand and prepare trust documents your client wants and needs. The book features chapters on key areas of trust law, including beneficiaries, trustees, trustee's powers and general provisions of a trust. DRAFTING TRUSTS AND WILL TRUSTS IN AUSTRALIA also offers a large number of precedents for both lifetime and will trusts. The precedents, which appear in printed form and on an accompanying CD-Rom, reveal a fresh approach to creating documents. A unique addition to the Australian market, DRAFTING TRUSTS AND WILL TRUSTS IN AUSTRALIA is an essential reference for those practising in tax law, estate and succession planning, family law and property law.

Drafting effective wills and trust allows property to be given to the people or institutions that matter most to an individual. This book explains how to do the special, thoughtful drafting required by anyone who truly cares about distribution of property, care of elderly parents, guardians for young children, or care for pets after the owner is gone. The book is richly illustrated by samples of techniques used in the actual wills and trusts of well-known Americans. Topics covered include: WHAT HAPPENS WITHOUT A WILL; CAPACITY TO MAKE A WILL; SELECTING THE TRUSTEES; DESIGNING PET TRUSTS. Realistic, thought-provoking DRAFTING EXERCISES followed by detailed POINTERS FOR DRAFTING help the reader develop the skills needed for effective drafting. The concluding chapters cover related documents, including: MEDICAL AND FINANCIAL POWERS OF ATTORNEY, MEDICAL DIRECTIVES and LIVING WILLS. About the author: Lucy Marsh, Professor of Law at University of Denver Sturm College of Law is a native to Denver. She is a 1963 graduate of Smith College and a 1966 graduate of the University of Michigan Law School. While attending the University of Michigan, she played a key role in setting up the first legal clinic in Ann Arbor to serve the underprivileged. She has led a distinguished career as an attorney, professor and advocate for community causes. Admitted to the bar in both Connecticut and Colorado, she was the first woman elected to the Colorado Bar Association Real Estate Section's Title Standards Committee, served the city as member of the Denver District Attorney's Office in the 1970's, was a commissioner to the Colorado Real Estate Commission, and provided legal assistance to the Colorado AIDS project. Her academic career at the University of Denver began in 1973 as a part time professor and led up to her present position as a full professor in 1982. Since that time she was voted DU Professor of the Year in 1985 and was elected by the students in 1987 to give the commencement address. She now leads a unique program in which the students in her Trust and Estates classes participate in a Will's Lab, providing free services for the indigent and elderly. She also employs a unique teaching tool called the Technicolor System, attributed to her father, Thompson Marsh, to assist in the learning process by color coding different types of information in student's legal drafts

This text, prepared by recognized experts in the field, addresses questions and issues that arise during the drafting of wills and trusts, particularly by couples. In addition, the authors offer insightful commentary. Representative chapters include Planning Together, Rebuilding Together, Non-Estate Planning, and Planning for Disability.

Disk contains only text files or sample clauses, memoranda and other documents from the text in WordPerfect 6.x/7.0 for Windows.

Updated through August 1, 2020, the third edition of Pennell's Estate Planning and Drafting focuses on every-day planning for "middle-rich" clients. For example: Traditional planning for couples who may not have as much wealth as double the basic exclusion amount but who anticipate that the exclusion amount may decline in the future. They must consider whether to qualify 100% of the estate of the first to die for the marital deduction (and defer all taxes), or instead to shelter the unified credit of the first to die in a nonmarital trust. In either case they also need to decide whether to elect portability for any unused exclusion amount. A sharper focus on family trust planning for clients with enough wealth to worry about protecting their beneficiaries (and wealth) but for whom sophisticated tax-minimization techniques are not needed. A new brief explanation of Code Chapter 14 illustrates its application but notes that most middle-rich clients will not stumble into estate freezing techniques. The coverage of retirement benefits is updated to reflect the SECURE Act changes to the required-minimum-distribution rules, and elimination of most stretch-payout planning. The chapter on charitable giving is streamlined and simplified in recognition that most middle-rich clients do not make extensive use of private foundations or split-interest trusts. Information about postmortem planning and fiduciary administration stresses state and federal income taxation and state death taxation in situations that do not trigger federal wealth transfer taxation. The text explains essential tax fundamentals that inform traditional techniques (e.g. Crummey powers), without overemphasis on the tax-oriented practices that led to their original adoption. There are over 100 pages of annotated forms illustrating basic planning documents, including a pour over will, self-trusteed declaration of trust, irrevocable life insurance trust, family and marital deduction trusts, and a third-party special needs trust.