Table Of Content

CUMULATIVE INDEX This index includes all the material published in Estate PLanninc, Volume 25. Charitable Contributions Current Tax Developments Drafting Suggestions Anticipated Sale of Donated Assets May Appraisal Needed for Charitable Designing Private Foundations—Avoid Cause Gain to Charitable Donor, by Deduction of Full Value, 25 ETPL the Cookie-Cutter Approach, 25 ETPI Jonathan G. Tidd, 25 ETPL 67, Feb98 130, Mar/Apr98 481, Dec98 The Charitable Inheritance Teaches Buy-Sell Agreement Ignored in Valuing Drafting for the Marital Deduction in Children About Philanthropy, by Erik Decedent’s Stock, 25 ETPL 32, Jan98 Light of the New Family-Owned Dryburgh and Giegor Kremenliev, 25 Community Property Mortgage Notes: Business Exclusion, 25 ETPL 229, ETPL 470, Dec98 No Basis Step-Up, 25 ETPL 132, June98 Mar/Apr98 Charitable Giving Deduction OK’d for Ex-Wife’s Interest Elder Law Nonqualified Stock Options Play a in Trust, 25 ETPL 418, Nov98 What Estate Planners and Their Clients Estate Allowed Deduction for Care Valuable Role in Making Charitable Should Know About Social Security, Gifts, 25 ETPL 86, Feb98 Giver’s Services, 25 ETPL 313, 25 ETPL 90, Feb98 Aug/Sept98 Using Life Insurance in Charitable Estate Hit With $14.8 Million Fraud Planning, 25 ETPL 387, Oct98 The Elderly Penalty, 25 ETPL 274, July98 Full Stepped-Up Basis for Pre-1977 Joint Interaction of Long-Term Care Closely Held Businesses Property, 25 ETPL 316, Aug/Sept98 Insurance and the Estate Tax, by Jay Advantages of Using a Limited Liability IRS Rules That Acquisition by Spouse of A. Soled, 25 ETPL 26, Jan98 Company in an Estate Plan, by Joseph Remainder Interest in QTIP Trust M. Mona, 25 ETPL 167, May98 Gives Rise to a Gift, 25 ETPL 173, Estate Planning ESOPs Create Liquidity for Shareholders May98 Estate Planning Specifically for the and Help Diversify Their Assets, by Later Expenses Reduce Underpayment Single Parent, by Richard M. Steven M. Etkind, 25 ETPL 158, Penalty, 25 ETPL 420, Nov98 Horwood, 25 ETPL 77, Feb98 May98 Ltr. Rul. Permits Beneficiary to Replace What Planning Strategies Should Be Estate Planning for Farmers: Federal Trustee, 25 ETPL 175, May98 Used When Both Spouses Work?, by Farm Program Payments, by Mark Mismanagement of Assets Didn’t Cause Judith L. Poller, 25 ETPL 358, Oct98 Daniel Maloney, 25 ETPL 12, Jan98 Exclusion of QTIP, 25 ETPL 36, Family-Owned Business Deduction Is Jan98 Estate Tax Enhanced by Balance Sheet Planning, New Ruling Turns Golden Handcuffs of Tax Law Changes Under the 1998 “IRS by Stanley M. Burnstein, 25 ETPI Stock Options Into Estate Planning Restructuring’ Flag, by Ronald D. 348, Oct98 Ball and Chain, 25 ETPL 310, Aucutt, 25 ETPL 339, Oct98 Handling the Nontax Issues in Business Aug/Sept98 TRA ‘97 Has Broad Impact on Estate Succession Planning, by Jon J. Gallo Reformed Trust Didn’t Qualify for and Gift Tax Provisions, by Edward and David A. Hjorth, 25 ETPL 22, Marital Deduction, 25 ETPL 271, Kessel and Kathleen A. Stephenson, 25 Jan98 July98 ETPL 3, Jan98 SEC Restrictions on Stock at Decedent’s Closely Held Businesses and Death Were Considered in Valuing the Stock, 25 ETPL 416, Nov98 From Howard M. Zaritsky Valuation Sixth Circuit Fashions Two-Part Test for Avoiding Malpractice Suits: The View For Tax Court Valuation Decisions, a Deductibility of Administration From an Aisle Seat, 25 ETPL 144, String of Reversals, 25 ETPL 474, Expenses, 25 ETPL 30, Jan98 ks Mar/Apr98 Dec98 Subsequent Gifts to Disclaimants Did Back to Basics: Avoiding Creativity in Hard Times for Buy-Sell Agreements, 25 Not Invalidate Their Disclaimers, 25 Marital Deduction Planning, 25 ETPL ETPL 235, June98 ETPL 127, Mar/Apr98 336, Aug/Sept98 Taxpayer Was Entitled to Rely on Capital Gains Rate Cut: A Mixed Estate Current Literature Actuarial Tables Despite Terminal Planning Blessing, 25 ETPL 48, Jan98 Book Explains Settling an Estate, 25 Illness, 25 ETPL 268, July98 Estate Tax Payment Provisions in ETPL 436, Nov98 Trustee’s Transfer of Trust Property Multiple Documents, 25 ETPL 440, Housing Options for the Elderly and Was Not a Gift, 25 ETPL 177, May98 Nov98 Disabled, 25 ETPL 285, July98 Rethinking Old Planning in Light of the New Book Addresses Elder Law Issues, Drafting New Regulations on Disclaiming Joint 25 ETPL 141, Mar/Apr98 Drafting to Achieve Maximum Property, 25 ETPL 240, June98 Nonqualified Deferred Compensation Flexibility in the Estate Plan, by Barry Analyzed, 25 ETPL 437, Nov98 A. Nelson and Rosario Ferrero Carr, Gifts Uniform Principles of Fiduciary 25 ETPL 252, July98 Annual Exclusion Gift Checks and the Accounting, 25 ETPL 436, Nov98 How to Draft Invasion Clauses for Relation-Back Doctrine, by Albert Useful, Practical Book on Drafting, 25 Marital and Credit Shelter Trusts, by Kalter and Lawrence Newman, 25 ETPL 285, July98 Peter B. Tiernan, 25 ETPL 259, July98 ETPL 402, Nov98 486 CUMULATIVE INDEX This index includes all the material published in Estate PLanninc, Volume 25. Charitable Contributions Current Tax Developments Drafting Suggestions Anticipated Sale of Donated Assets May Appraisal Needed for Charitable Designing Private Foundations—Avoid Cause Gain to Charitable Donor, by Deduction of Full Value, 25 ETPL the Cookie-Cutter Approach, 25 ETPI Jonathan G. Tidd, 25 ETPL 67, Feb98 130, Mar/Apr98 481, Dec98 The Charitable Inheritance Teaches Buy-Sell Agreement Ignored in Valuing Drafting for the Marital Deduction in Children About Philanthropy, by Erik Decedent’s Stock, 25 ETPL 32, Jan98 Light of the New Family-Owned Dryburgh and Giegor Kremenliev, 25 Community Property Mortgage Notes: Business Exclusion, 25 ETPL 229, ETPL 470, Dec98 No Basis Step-Up, 25 ETPL 132, June98 Mar/Apr98 Charitable Giving Deduction OK’d for Ex-Wife’s Interest Elder Law Nonqualified Stock Options Play a in Trust, 25 ETPL 418, Nov98 What Estate Planners and Their Clients Estate Allowed Deduction for Care Valuable Role in Making Charitable Should Know About Social Security, Gifts, 25 ETPL 86, Feb98 Giver’s Services, 25 ETPL 313, 25 ETPL 90, Feb98 Aug/Sept98 Using Life Insurance in Charitable Estate Hit With $14.8 Million Fraud Planning, 25 ETPL 387, Oct98 The Elderly Penalty, 25 ETPL 274, July98 Full Stepped-Up Basis for Pre-1977 Joint Interaction of Long-Term Care Closely Held Businesses Property, 25 ETPL 316, Aug/Sept98 Insurance and the Estate Tax, by Jay Advantages of Using a Limited Liability IRS Rules That Acquisition by Spouse of A. Soled, 25 ETPL 26, Jan98 Company in an Estate Plan, by Joseph Remainder Interest in QTIP Trust M. Mona, 25 ETPL 167, May98 Gives Rise to a Gift, 25 ETPL 173, Estate Planning ESOPs Create Liquidity for Shareholders May98 Estate Planning Specifically for the and Help Diversify Their Assets, by Later Expenses Reduce Underpayment Single Parent, by Richard M. Steven M. Etkind, 25 ETPL 158, Penalty, 25 ETPL 420, Nov98 Horwood, 25 ETPL 77, Feb98 May98 Ltr. Rul. Permits Beneficiary to Replace What Planning Strategies Should Be Estate Planning for Farmers: Federal Trustee, 25 ETPL 175, May98 Used When Both Spouses Work?, by Farm Program Payments, by Mark Mismanagement of Assets Didn’t Cause Judith L. Poller, 25 ETPL 358, Oct98 Daniel Maloney, 25 ETPL 12, Jan98 Exclusion of QTIP, 25 ETPL 36, Family-Owned Business Deduction Is Jan98 Estate Tax Enhanced by Balance Sheet Planning, New Ruling Turns Golden Handcuffs of Tax Law Changes Under the 1998 “IRS by Stanley M. Burnstein, 25 ETPI Stock Options Into Estate Planning Restructuring’ Flag, by Ronald D. 348, Oct98 Ball and Chain, 25 ETPL 310, Aucutt, 25 ETPL 339, Oct98 Handling the Nontax Issues in Business Aug/Sept98 TRA ‘97 Has Broad Impact on Estate Succession Planning, by Jon J. Gallo Reformed Trust Didn’t Qualify for and Gift Tax Provisions, by Edward and David A. Hjorth, 25 ETPL 22, Marital Deduction, 25 ETPL 271, Kessel and Kathleen A. Stephenson, 25 Jan98 July98 ETPL 3, Jan98 SEC Restrictions on Stock at Decedent’s Closely Held Businesses and Death Were Considered in Valuing the Stock, 25 ETPL 416, Nov98 From Howard M. Zaritsky Valuation Sixth Circuit Fashions Two-Part Test for Avoiding Malpractice Suits: The View For Tax Court Valuation Decisions, a Deductibility of Administration From an Aisle Seat, 25 ETPL 144, String of Reversals, 25 ETPL 474, Expenses, 25 ETPL 30, Jan98 ks Mar/Apr98 Dec98 Subsequent Gifts to Disclaimants Did Back to Basics: Avoiding Creativity in Hard Times for Buy-Sell Agreements, 25 Not Invalidate Their Disclaimers, 25 Marital Deduction Planning, 25 ETPL ETPL 235, June98 ETPL 127, Mar/Apr98 336, Aug/Sept98 Taxpayer Was Entitled to Rely on Capital Gains Rate Cut: A Mixed Estate Current Literature Actuarial Tables Despite Terminal Planning Blessing, 25 ETPL 48, Jan98 Book Explains Settling an Estate, 25 Illness, 25 ETPL 268, July98 Estate Tax Payment Provisions in ETPL 436, Nov98 Trustee’s Transfer of Trust Property Multiple Documents, 25 ETPL 440, Housing Options for the Elderly and Was Not a Gift, 25 ETPL 177, May98 Nov98 Disabled, 25 ETPL 285, July98 Rethinking Old Planning in Light of the New Book Addresses Elder Law Issues, Drafting New Regulations on Disclaiming Joint 25 ETPL 141, Mar/Apr98 Drafting to Achieve Maximum Property, 25 ETPL 240, June98 Nonqualified Deferred Compensation Flexibility in the Estate Plan, by Barry Analyzed, 25 ETPL 437, Nov98 A. Nelson and Rosario Ferrero Carr, Gifts Uniform Principles of Fiduciary 25 ETPL 252, July98 Annual Exclusion Gift Checks and the Accounting, 25 ETPL 436, Nov98 How to Draft Invasion Clauses for Relation-Back Doctrine, by Albert Useful, Practical Book on Drafting, 25 Marital and Credit Shelter Trusts, by Kalter and Lawrence Newman, 25 ETPL 285, July98 Peter B. Tiernan, 25 ETPL 259, July98 ETPL 402, Nov98 486 487 Techniques That Maximize the Pension via Split-Dollar, by Anthony Recent Developments Highlight IRS Advantages of Lifetime Giving, by M. Sardis and Jeffrey ]. Jenei, 25 ETPI Challenges to FLPs, by Myron Kove and Myron Kove and James M. Kosakow, 51, Feb98 James M. Kosakow, 25 ETPL 60, Feb98 25 ETPL 463, Dec98 Determining the Best Exit Strategy From Recent Partnership Changes Affect Using GRITs to Make Risk-Free Gifts of a Split-Dollar Plan, by Alan J. Estate Planning, by A. Kel Long, III, Appreciated Property, by Angelo F. Mittelman, 25 ETPL 443, Dec98 25 ETPL 375, Oct98 Tiesi, 25 ETPL 213, June98 Marital Rights The Practical Practitioner Income Tax Beneficiary Designations After Divorce: Allocating GST Exemption to Insurance New Constructive Sale Rules Make It Will the Ex-Spouse Benefit?, by Nancy Trust, 25 ETPL 322, Aug/Sept98 Tougher to Avoid Tax on Built-In Schmidt Roush, 25 ETPL 224, June98 Distribution of Roth IRA After Owner’s Gain, by Andrea S. Kramer and Death, 25 ETPL 323, Aug/Sept98 William R. Pomierski, 25 ETPL 291, Medicaid Use of Charitable Reverse Split-Dollar, Aug/Sept98 Using Private Annuities and Installment 25 ETPL 325, Aug/Sept98 Strategies for Handling Difficult Notes in Medicaid Planning, by David Fiduciary Income Tax Issues, by Scott ]. Correira, 25 ETPL 381, Oct98 Practice H. Malin, 25 ETPL 410, Nov98 Useful Suggestions for Building an New Fiduciary Decisions Estate Planning Practice, by Stephan Insurance Trends and Topics Adult Child’s ‘Right’ to Exempt R. Leimberg, 25 ETPL 395, Nov98 1996 Policyolder Net Cost Review, 25 ETPL 183, May98 AtPtroorpneeryt-yC,l i2e5n t ETPPrLi vile3g2e9 , aAnud g/SSuecpctes9s8o r Retirement Plans Administration’s Budget Proposals Trustee, 25 ETPL 331, Aug/Sept98 Customizing IRAs to Serve a Client’s Would Have a Dramatic Impact on the Can Donor Enforce Charitable Gift?, 25 Specific Needs Best, by Mervin M. Life Insurance Industry, 25 ETPL 181, ETPL 138, Mar/Apr98 Wilf, 25 ETPL 147, May98 May98 Courts Interpret Who Is Included as Innovative Estate Planning Strategies CPAs Can Now Receive Commissions ‘Issue,’ 25 ETPL 283, July98 Using Roth IRAs, by Mervin M. Wilf, From the Sale of Investment and Damages for Breach of Fiduciary Duty, 25 ETPL 99, Mar/Apr98 Insurance Products, 25 ETPL 424, 25 ETPL 329, Aug/Sept98 New Prop. Regs. Make It Easier to Nov98 Distribution of Stock Held in Joint Name a Trust as Plan Beneficiary, by Ct. Rules Against ‘Impostor Defense’ in Fraud Case, 25 ETPL 184, May98 Tenancy, 25 ETPL 430, Nov98 Jonathan H. Ellis, 25 ETPL 153, Growing Sales of Variable Life Erode Extent of Probate Court’s Jurisdiction, May98 Market Share of Whole Life and 25 ETPL 42, Jan98 Roth IRA or Regular IRA: How to Universal Life, 25 ETPL 135, Fiduciary’s Claim for Contribution Decide Which One Is Preferable, by Mar/Apr98 Denied, 25 ETPL 43, Jan98 Martin Silfen, 25 ETPL 108, Identity of Settlor of Special Needs Mar/Apr98 Life Insurance for HIV Infected Trust, 25 ETPL 428, Nov98 Applicants, 25 ETPL 426, Nov98 Merging of the Life Insurance and Illegitimate Heir’s Rights to Estate, 25 Software Review Securities Industries Accelerates, 25 ETPL 283, July98 Business Quick-Plan Software Enhances Lost Will’ Was Admitted to Probate, 25 ETPL 326, Aug/Sept98 ETPL 282, July98 Business Succession Planning, 25 ETPI Mutual Funds Introduce a Death Benefit 190, May98 Mistake’ as Grounds for a Will Contest, Feature, 25 ETPL 426, Nov98 25 ETPL 282, July98 Conspectus Current CD-ROM Keeps Mutual Life Insurers Restructure as Practitioners Up-to-Date in Estate Modification of Trust Denied by Court, Mutual Holding Companies to Gain Planning, 25 ETPL 333, Aug/Sept98 25 ETPL 430, Nov98 Financial Flexibility, 25 ETPL 39, Estate & Elder Law Advisor: A New Precatory Words Did Not Create a Jan98 CD-ROM for Estate Planning Prudential, America’s Largest Life rust, 25 ETPL 139, Mar/Apr98 Research, 25 ETPL 45, Jan98 Property Rights of Unmarried Insurer, Announces Plans to Wealth Transfer Planning Prepares a Cohabitants, 25 ETPL 188, May98 Demutualize, 25 ETPL 279, July98 Broad Range of Estate Planning Questions of Trust Administration lr2i5p leE-TXP L Stil2l8 0N, otJ ulthye9 8 Law of the Land, Resolved, 25 ETPL 284, July98 Documents, 25 ETPL 431, Nov98 Reformation of Charitable Remainder Trust Permitted, 25 ETPL 42, Jan98 Trusts International Planning Right to Jury Trial in Trust Cases, 25 Assessing the Uses of the Electing Small Federal Taxation of Foreign Trusts: ETPL 429, Nov98 Business Trust, by Irving S. Schloss Coping With a Complex Regime, by S/L for Breach of Fiduciary Duty, 25 and Paul Monaghan, 25 ETPL 368, Edmund W. Granski, ]r., 25 ETPI ETPL 330, Aug/Sept98 Oct98 243, July98 Strict Privity Rule Adopted in Maryland, Avoiding Tax Pitfalls and Family Working With the Complex Tax Rules 25 ETPL 427, Nov98 Conflicts When a Child Is Trustee, by Governing Inbound Foreign Trusts, by Tort Creditor’s Access to Spendthrift Renee M. Raithel, 25 ETPL 218, Edmund W. Granski, ]r., 25 ETPI Trust, 25 ETPL 187, May98 June98 301, Aug/Sept98 Unauthorized Practice of Law Barred The Mandatory Income Trust’: An Bequest, 25 ETPL 428, Nov98 Alternative to a Crummey Trust, by Joint Property What Constitutes a Charitable Bequest?, Timothy V. Barnhart, 25 ETPL 204, New Disclaimer Regs. and Other Rules 25 ETPL 281, July98 June98 Affecting Jointly Owned Property, by Edwin G. Fee, Jr., 25 ETPL 117, Partnerships Valuation Mar/Apr98 Gifts of Family Limited Partnership Preparing Valuation Reports to Interests Did Not Qualify for Annual Withstand Judicial Challenge, by Life Insurance Exclusion, Rules IRS, 25 ETPL 185, Robert T. Willis, Jr., 25 ETPL 455, Creating a Life Insurance Private May98 Dec98 DECEMBER 1998 VoL 25 7 NO 20 CUMULATIVE INDEX Valuation Discount for Built-In Capital Peter B. Tiernan 25 Mervin M. Wilf 99, 147 Gains Tax Allowed, by Lance S. Hall, Angelo F. Tiesi 21 Robert T. Willis, Jr. 455 25 ETPL 406, Nov98 Ronald R. Volkmer 42, 138,18 Vs Howard M. Zaritsky 48, 144, 240, Valuation Discounts for Private Debt in 281, 329, 42 7 336, 440 Estate Administration, by M. Read Moore and D. Alan Hungate, 25 ETPI 195, June98 Statement of Ownership, Management, and Circulation (Required by 39 U.S.C. 3685) Washington Watch 1. Publication Title 2. Publication No 3. Filing Date Vhithe > Tax Law? yr Ca 997 Whither the Tax Law Or Can 1 Estate Plannin 0997-140 10/1/98 Be Topped?, 25 ETPL 82, Feb98 4. Issue Frequency - Monthly except |5. No. of Issues Published 6. Annual Subscription Price Bi-Monthly in March and August Annually 10 $225.00 AUTHOR INDEX 7. Complete Mailing Address of Known Office of Publication Contact Person Ronald D. Aucutt 82, 339 Kim Morbey Timothy V. Barnhart 31 St. James Ave., Boston, Suffolk ,MA 02116-4112 Tel # (617) 292-8295 Saoew Svet lana Bek man 8. Complete Mailing Address of Headquarters or General Business Office Scott Bieber Same as above John A. Bogdanski WkWWwWewMh SNtNJ 9. Full Names and Complete Mailing Address of Publisher, Editor, and Managing Editor Stanley M. Burnstein Publisher Rosario Ferrero Carr DEraivki d DrJy. bCuorrgrhei ra WWw chNbmo MY ntm o WEdairtroer n, Gorham & Lamont, a division of RIA Group, 31 St. James Ave., Boston, MA 02116-4112 Jonathan H. Ellis Charis Emley, ___90 Fifth Avenue, New York, NY 10011 Dav id M. English Managing Editor Steven M. Etkind E. dwin. G. Fee, Jr. SandraK . Le2w is ‘ 90 Fifth Avenue, >, tN ew YoYrokr,k , NY 00 10011 Jon J. Gallo ; 10. Owner — ene Complete Mailing Address Edmund W. Granski, Jr. : 2 Lance S. Hall Lisa H.R. Hayes 30, 127, Thomson Information Services Inc., 22 Pittsburgh St., Boston, MA 02210 11. Known Bondholders, Mortgagees, and Other Security Holders Owning or Holding 1 Percent or More David A. I {jorth of Total Amount of Bonds, Mortgages or Other Securities David R. Hodgman Full Name ___Complete Mailing Address Richard M. Horwood D. Alan Hungate Thomson Holdings Inc., 1 Station Place, Stamford CT 06902 Jeffrey f Jenei 12. For Completion by Non-Profit Organizations: N/A Albert Kalter Donald H. Kelley 45,190, Edward Kessel James M. Kosakow 60, 13. Publication Title 14. Issue Date for Circulation Data Below Ait en, Myron Kove 60, 185 Estate Planning August/September 1998 A nd rea S. Kramer 1S. Extent and Nature of Circulation Average No. Copies Each Issue Actual No. Copies of Single Issue Gregor Kremenliey | es __|DuDru ring Preceding 12 Months Published Nearest to Filing Date Stephan R. Leim berg a Total Number of Copies (Net press run) ’ 12556 12000 A. Kel Lo. ng, III > , >. Paid and/or Requested Circulation Robert E. Madden 2 sh DealanedC ramser s Scott H. Malin (2)Paid or Requested Mail Subscnptions Mark Daniel Maloney Alan J. Mittelman Total Paid and/or Requested Circulation Joseph M. Mona Free Distributiobn yM ail Paul Monaghan M. Read Moore ». Free Distribution Outside the Mail —+— Barry A. Nelson Lawrence Newman Total Free Distnibution (sum of 15d and I5e)} Judith L. Poller Total Distribution (sum of 15c and 15f) | William R. Pomierski 1. Copies Not Distributed enneeee M. Raithe > (1)Office Use, Leftovers, Sppoei led Nancy Schmidt Roush Howard J. Saks 39. 135, 181, (22) Retums from News Agent + oSa[aaenwcaaaMevncbeaeechAcRseedntL hi sa irSse e an s ia ctb alatscaiepdnasc nd k 37 326, i_lotal_(sum of 15g, 15h(1) and 15h(2) 12556 12000 Anthony M. Sardis | Sanford I; Schlesinger 86, Percent Paid and/or Requested Circulation 100% 100% MAnreayli Irv ing§ S0. .S chloss 16. This Statement of Ownershup will be pnnted in the November 1998 Nancy Shurtz issue of this publication 17. Signature and Title of Editor, Publisher, Business Manager, or Owner Date Martin Silfen e - Z Jay A. Soled as o9lsslar Kath leen A. Stephens¢ yn | certify that@]) information furnished on this form ts true and complete. I understand that anyone who furnishes false or misleading Debra L. Stetter information on this form or who omits matenal or information requested on the form may be subject to criminal sanctions (including fines and imprisonment) and/or civil sanctions (including mulupie damages and civil penalties) Jonathan G. Tidd / PS Form 3526, Sept 1995 Facsimile ESTATE PLANNING DECEMBER 1998 VOL 25 / NO