Estate Planning Principles and Problems Gazur - PDF by hdv10836

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									                   ESTATE PLANNING
                                         SPRING 2009


PROFESSOR: Hugh Cawthorne                           DAYS: Monday & Tuesday
PHONE: 801-944-3334                                 TIME: 1:40-3:05 pm
E-MAIL: utahugh@msn.com                             LOCATION: Moyle Conference Room


Course Materials:
      Principles & Problems in Estate Planning (2008)
      Wayne M. Gazur & Robert M. Phillips
      Second Edition (Aspen Publishers)
      With Abridged Student Forms
      (contained on the enclosed CD)
      Recommended, but not essential, further reading:
      Practical Guide to Estate Planning, Madoff, Tenney, and Hall (CCH 2007 Edition)
      Estate Planning & Taxation, John C. Bost (Kendall/Hunt 2006 Fourteenth Edition)
      Selected Statutes on Trusts and Estates, Ascher (Thomson/West 2009 Edition)
      Estates and Trusts, Cases and Materials, Dobris (Foundation Press 2007 3rd Edition)
      Estate Planning & Drafting, Regis W. Campfield (Thomson/West 2007 3rd Edition)
      The Planning & Drafting of Wills & Trusts, Shaffer (Foundation Press 2007, 5th Edition)

Course Structure, Assignments & Grading:

        The book contains 16 case studies and many more short exercises. There will not be
enough classroom time to cover all of them. Case studies assigned will avoid technical federal
taxation issues. They will thus be suitable for students with backgrounds only in Wills and
Trusts, although the course will include an overview of probate practice and federal wealth
transfer taxation, as well as gifts to charities and international aspects.

        To keep the class discussion robust, 40% OF THE FINAL COURSE GRADE will
be allocated to attendance and participation. It is extremely important for students to attend
class regularly. Thus a “no-cuts-except in emergencies” policy will apply and attendance will be
monitored.

         The use of laptops is encouraged, provided relevant to course work assigned. Misuse may
result in sanctions, i.e., reducing the allocation for attendance and participation.

        The remaining 60% OF THE FINAL COURSE GRADE will be allocated among
5 written submissions assigned from the case studies in the book (individual authorship
essential!). There will be no final examination or other tests.




                                                                                     12/15/2008
Class Schedule:

                            Week   Dates:
                            Number
                                01                          12, 13
                                02     January              20
                                03                          26, 27
                                04                          2, 3
                                05                          9, 10
                                      February
                                06                          17
                                07                          23, 24
                                08                          2, 3
                                        March
                                09                          9, 10
                                   SPRING BREAK
                                10                          23, 24
                                11                          30, 31
                                12                          6, 7
                                13       April              13, 14
                                14                          20, 21

         The University of Utah seeks to provide equal access to its programs, service and
activities for people with disabilities. If you will need accommodations in this class, reasonable
prior notice needs to be given to Barbara Dickey, Associate Dean for Student Affairs, and to the
Center for Disability Services (CDS) to make arrangements for accommodations. CDS is located
at 200 South Central Campus Drive, (Union Building), RM 162 or you can call 801-581-5020.

       All written information in this course can be made available in alternative format with
prior notification.




                                                                                      12/15/2008
Coursework Assignments:

Week    Assignment Title:
Number:
One     Dealing with Clients:
        Read chapter 1 of textbook. Be prepared to discuss Exercises 1-1 thru 1-8 in class.
        Note that excellent and comprehensive reference materials are included with each
        chapter, but time constraints will realistically severely limit their use during this
        course. The book frequently cited in these materials which as you know is used by
        the professors who teach Wills, Trusts and Estates at this law school is Dukeminier,
        Johanson et all (7th edition – 2005).
Two     Fundamentals of Drafting Wills:
        Read chapter 2 of textbook. Be prepared to discuss Exercises 2-1 thru 2-4 and 2-6 in
        class. Review Case Study 2-1. Prepare and hand in for grading next week concise
        written discussions of Exercises 2-5 and 2-7. NOTE:Additional credit will be given
        for reasonably concise discussion of your reason for selecting or omitting material,
        i.e. demonstration of original thought.
Three   The Young Adult:
        Read chapter 3 of textbook. Parts A, B and C of Case Study 3-1 will be discussed in
        class. Since this is lighter material and does not include a written assignment, you
        should also read at this time Chapter 16 (overview of federal wealth transfer taxes).
Four    The Wealthy Young Adult Contemplating Marriage:
        Read chapter 4 of textbook. Be prepared to discuss in class Case Study 4-1. Prepare
        and hand in for grading next week the draft marital agreement (Part E). Additional
        credit will again be available as before for concise written discussion.
Five    The Young Married Couple (Without Children):
        Read chapter 5 of textbook. Be prepared to discuss in class Case Study 5-1. Prepare
        and hand in for grading by next week Part C of Case Study 5-1. Additional credit
        will again be available as before for written discussion.
Six     Unmarried Couples & The Married Couple (with Young Children):
        Read chapters 6 and 7. Be prepared to discuss Case Studies 6-1 and 7-1 in class.
Seven   Gifts from Grandparents:
        Read chapter 8, being prepared to discuss in class Exercise 8-1 and Case Study 8-1.
Eight   Remarriage (with Children):
        Read Chapter 9, being prepared to discuss in class Exercises 9-1, 9-2 and Case Study
        9-1.
Nine    Migratory Married Couples and The Married Small Business Owner or Investor:
        Read chapter 10 in outline, being prepared to discuss in class Exercise 5, 10-1, 10-2
        and Case Study 10-1. Then read chapter 11, being prepared to begin discussing in
        class Exercises 11-1 to 11-17 and Case Study 11-1. And see week ten below.




                                                                                   12/15/2008
Ten       More Detailed Estate Planning:
          Complete review of chapter 11, probably the most substantive chapter in the
          textbook. Prepare and hand in for grading next week Part B of Case Study 11-1.
          Additional credit will be available for written explanation as before. Read in outline
          chapters 12 and 13 (no Case Study or Exercises assigned). A guest speaker will also
          be invited from the local IRS office
Eleven    Charitable Gifts:
          Read chapter 14, being prepared to discuss in class Exercises 14-1 and 2 and Case
          Study 14-1.

Twelve   Planning for Incapacity:
         Read chapter 15, being prepared to discuss in class Case Study 15-1. Prepare and
         hand in for grading this week Part C of Case Study 15-1. Additional credit will be
         available for written explanation as before.
Thirteen Probate Administration:
         Read chapter 17, reviewing in outline for completeness Exhibits 17.1 through 17.3
         and reviewing but not preparing in detail Case Studies 17-1 and 17-2.
         A guest speaker is also planned this week on the work of Trust Officers.
Fourteen Synthesis:
         No specific assignments. General review, in particular of Federal Wealth Transfer
         Tax Principles and Planning Strategies in Chapter 16, and open house for
         unanswered questions.




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