Estate Planning in Virginia (Virginia CLE) (2018 Ed.)

Appendix 11-9 Client Document Execution Memorandum
Chapters and Authors
Contents
Appendix 5-1 Statutory Framework of Authorities for Trusts
Appendix 5-15a Sample Nonreciprocal Trust Created for Sole Lifetime Benefit of Donee Spouse
Appendix 5-8 I.r.c. § 2503(c) Trust
Appendix 8-12 Consent for Medical Treatment of Minor Child
5.1 Introduction and Scope
Appendix 8-6 Durable Limited Power of Attorney for Tax Matters
Appendix 5-11 Crummey Trust for the Benefit of a Child of the Grantor
Appendix 4-6 Pour-over Will
10.8 Powers of Appointment
11.3 Legal Requirements for Execution of a Will
Appendix 11-2 Sample Letter Sending Tax-oriented Document Drafts to Clients
Appendix 1-5 Short-form Questionnaire
5.16 Modern Trust Structure and Governance
Appendix 8-8 General Durable Power of Attorney-alternative Form
Appendix 8-2 Memorandum of Escrow Delivery of Power of Attorney; Authorization for Release of Confidential and Protected Health Information
Appendix 11-7 Self-proving Certificate Without Testator and Witness Signatures
Appendix 11-10 Log for Original Client Documents Retained by Law Firm
10.2 Nature of Nonprobate Assets
Appendix 5-13 Annual Withdrawal Right Donee Notification Letter for Crummey Trust for the Benefit of a Child of the Grantor
5.15 Creation of Trust by Conservator of Estate of Incapacitated Person
6.10 Disclaimers
Appendix 5-7 Grandchild's Trust
5.2 Virginia Uniform Trust Code
5.8 Reasons for Using a Revocable Trust
Appendix 12-2 Sample Letter Terminating Representation with Estate Planning Client Upon Completion
Title and Copyright
3.11 Other Documents
5.4 Overview of the Pour-over Will and Living Trust Arrangement
Appendix 8-11 Power of Attorney for Minor Child's Care
Appendix 5-3 Tax Trust with Qtip or General Power of Appointment Marital Trust
10.3 Estate Plan Integration
10.7 Qualified Plan and Ira Retirement Benefits
4.3 Will Substitutes and Alternative Planning
Appendix 11-11 Sample Letter to Prior Attorney or Corporate Fiduciary Requesting Return of Prior Originals to Client
Appendix 1-4 Long-form Questionnaire
11.2 Review of Documents before Execution
1.1 Introduction
12.6 Ethical Issues Regarding Contacting Former Clients
5.5 On Forms
Appendix 11-3 Sample Letter to Corporate or Other Professional Fiduciary Sending Document Drafts for Review
2.5 Law Firms and Associations
Ebook License
3.3 Probate Process—a Brief Overview
Index
6.1 Overview of the Unified Transfer Tax System
7.4 Valuation of Interests for Estate Tax Purposes
6.9 Consistency in Basis Reporting
1.3 Collecting the Information
Appendix 11-5 Procedure for Notaries in the Use of Self-proving Certificates
Electronic Forms: Instructions and Table
Appendix 12-4 Sample First Letter to Client Who Fails to Re-contact Attorney
12.5 Retrieval System
1.5 Confidentiality and Cyber Security
Appendix 10-1 Revocable Transfer on Death Deed Pursuant to Section 64.2-635 of the Virginia Code
7.9 Estate Freezes
About the Editor and Authors
4.4 Fundamental Will Provisions
10.1 Introduction
4.6 Prerequisites for a Valid Will
3.7 Comparison of Testacy and Intestacy
1.6 Proposed Methodology for Conducting the Interview
6.2 Determining Property Subject to Estate Tax
6.8 Special Valuation Rules
12.4 How to Terminate the Representation
6.11 Saving Taxes with Charitable Gifts
7.5 Use of the I.r.c. § 303 Redemption
11.5 Document Execution Ceremony
1.2 Starting the Process
9.6 Considerations in Selecting Agent Under Power of Attorney
Appendix 4-2 Non-tax Will for Married Person with Trust for Children
3.1 Introduction
1.4 Recognizing Ethical Dilemmas
4.1 Introduction
7.8 Disposition of Business Interest before Death
7.2 Selecting a Form of Ownership
Appendix 5-2 Non-tax Trust with Trust for Children
3.5 Other Rights
Appendix 5-10 Annual Withdrawal Right Notification Letter
4.9 Matching the Estate Planning Documents with the Client
5.10 General Considerations in Drafting an Irrevocable Trust
6.4 Selecting and Funding Marital Deduction Formulas
5.3 Revocable Living Trust: What Is It?
Appendix 11-4 Signing for Testator Form
Appendix 5-15 Sample Nonreciprocal Trust Forms
4.12 Modern Trust Law
Appendix 8-3 Durable General Power of Attorney
8.2 Minor Children
2.3 Lawyer as Advisor
12.1 Overview
4.5 Basic Considerations
8.3 Assets Owned in Other Jurisdictions
9.2 Standards of Judgment, Duties, and Obligations
9.7 Selecting Agents Under Health Care Powers of Attorney and Advance Medical Directives
Appendix 5-4 Tax Trust with Gst Provisions
Appendix 5-9 Initial "perpetual" Withdrawal Right Notification Letter
Appendix 8-4 Durable Special Power of Attorney Granting Authority to Agent to Make Gifts
5.12 Irrevocable Life Insurance Trust
11.7 Safekeeping of Documents
9.1 Fiduciaries Generally
11.6 Execution of Other Estate Planning Documents
Preface
Appendix 7-3 Business Succession Planning Questionnaire Relating to the Business, Its Operations, Management, and Ownership Structure
Appendix 4-5 Tax Will with Qtip or General Power of Appointment Marital Trust
Appendix 4-7 Codicil
6.6 Taxation of Gifts
Appendix 7-2 Shareholder Agreement
4.10 Selected Problem Areas
Appendix 8-7 Designation of Individual to Make Arrangements for Funeral and Disposition of Remains
3.6 Reasons for Having a Will
2.4 Lawyer as Advocate
5.9 Living Trust as a Will Substitute
10.9 Augmented Estate
8.1 Powers of Attorney
4.8 The American Taxpayer Relief Act of 2012 and the Tax Cuts and jobs Act of 2017: Estate, Gift, and Gst Taxes
Appendix 4-4 Tax Will with Outright Disposition of Marital Share
3.10 Alternatives to Trusts
3.9 Uses of Trusts
5.11 Estate, Gift and Gst Taxes
6.3 Estate Tax Marital Deduction
5.14 Decanting Trust Assets
2.6 Information About Legal Services
Appendix 5-14 General Diagram
Appendix 8-9 Agent's Certification as to Validity of Power of Attorney and Agent's Authority
Appendix 8-5 Advance Medical Directive Appointment of Agent for Health Care Decisions Appointment of Personal Representative to Obtain Health Care Information Appointment of Agent to Make Anatomical Gifts
10.6 Life Insurance
10.5 Pod and Tod Accounts
Appendix 1-3 Engagement Letter—alternative Form
3.2 Forms of Ownership
9.8 Selection and Appointment of Successor Fiduciaries
Appendix 12-1 Legal Ethics Opinions 312, 973, 1519, and 1305
5.7 Basic Revocable Trust Provisions
Appendix 12-5 Sample Letter Terminating Relationship with Client Who Fails to Re-contact Attorney
12.3 Importance of Terminating the Representation
Appendix 9-1 Attorney/fiduciary Disclosure and Client Consent
3.8 Types of Trusts
9.5 Considerations in Selecting Guardians of Minor Children
Appendix 5-6 Life Insurance Trust
4.11 Common Clauses and Uncommon Results
5.13 Charitable Remainder Trust
6.5 Other Deductions from the Gross Estate
Appendix 8-1 Memorandum of Understanding Accompanying Power of Attorney
4.7 Amending the Plan: Codicil or New Will
7.10 Non-tax Considerations of Business Succession Planning
9.3 Fiduciary Choices Available
In Memoriam
9.4 Considerations in Selecting Personal Representatives and Trustees
Acknowledgments
Appendix 1-2 Engagement Letter
10.10 Uniform Real Property Transfer on Death Act
2.1 Introduction
11.1 Overview
3.4 The Augmented Estate
4.8 the American Taxpayer Relief Act of 2012 and the Tax Cuts and J jobs Act of 2017: Estate, Gift, and Gst Taxes
2.2 Relationship Between Client and Lawyer
11.4 Proof of Execution of Wills
7.1 Introduction
Appendix 12-3 Sample Letter to Corporate or Other Professional Fiduciary Sending Executed Documents for Safekeeping
3.14 Implementing the Plan
Appendix 5-16 Miscellaneous Trust Provisions
Appendix 4-3 Will with Special Needs Trust for Disabled Child
3.12 Transfer Tax Considerations
4.2 What Constitutes a Will?
Appendix 4-1 Non-tax Will for Single Person with Trust for Young Beneficiaries
10.4 Jointly Owned Property
Appendix 7-1 Shareholder Agreement Drafting Questionnaire
Appendix 11-1 Sample Letter Sending Non-tax Document Drafts to Clients
10.11 Designation of Beneficiary on Motor Vehicle Certificate of Title
Appendix 7-4 Business Succession Planning Questionnaire Relating to Non-business Assets
3.13 Planning for Married Couples
Appendix 5-15b Sample Nonreciprocal Trust Created for Joint Lifetime Benefit of Donee Spouse and Descendants; Donee Spouse Has Lifetime Limited Power to Appoint
Appendix 11-8 Legal Ethics Opinion 1283
Appendix 5-12 Annual Withdrawal Right Trustee/guardian Notification Letter for Crummey Trust for the Benefit of a Child of the Grantor
7.7 Estate Tax Deduction for Qualified Family-owned Businesses
9.9 Compensation of Fiduciaries
3.15 Conclusion
12.2 Completion of Work
Appendix 5-5 Amendment to Trust Agreement
Appendix 4-8 Drafting Suggestions for Clause to Elect Portability
6.7 Generation-skipping Transfer Tax
12.7 Ethical Issues Regarding Closed Estate Planning Files
Appendix 1-1 Initial Letter to Client
Appendix 11-6 Self-proving Certificate with Testator and Witness Signatures
Appendix 8-10 Revocation of Power of Attorney
Appendix 10-2 Revocation of Transfer on Death Deed Pursuant to Section 64.2-636 of the Virginia Code
7.3 Shareholder Agreements
7.6 Election to Defer Payment of Estate Tax