Thursday, April 4, 2013
On behalf of LexisNexis and the Graduate Tax Series Board of Editors (Ellen Aprill (Loyola-L.A.), Joshua Blank (NYU), Michael Friel (Florida), Philip Postlewaite (Northwestern), and Scott Schumaker (U. Washington)) I am delighted to announce the publication of Estate and Gift Taxation (2d ed. 2013), by Robert Danforth (Washington & Lee) & Brant Hellwig (Washington & Lee).
The Graduate Tax Series is the first and only series of course materials designed for use in tax LL.M. programs. Like all books in the Series, Estate and Gift Taxation was designed from the ground-up with the needs of graduate tax faculty and students in mind:
- More focus on Internal Revenue Code and regulations, less on case law
- Analysis of complex, practice-oriented problems of increasing sophistication
- Teacher’s manual with solutions to problems and other guidance
- On-line access to the comprehensive and current Code and regulations, designed to complement the book
This new edition of Estate and Gift Taxation transitions from the temporary estate and gift tax regime that prevailed for the last decade by incorporating the provisions of the American Taxpayer Relief Act of 2012 that places the federal wealth transfer tax regime on a permanent footing. In addition to noting these fundamental legislative changes, the book devotes additional coverage to a number of recent estate and gift taxation hot topics, including:
- Defined value transfers and the increasing acceptance of this technique by courts;
- Portability of the unified credit from a predeceasing spouse to a surviving spouse;
- Availability of the gift tax annual exclusion for transfers of restricted beneficial interests in closely held entities; and
- Recent cases examining challenges to the use of family limited partnerships as estate planning vehicles.
Like the first edition of Estate and Gift Taxation published in 2011, the second edition consists of discrete chapters addressing the estate and gift tax regime in a context specific manner (i.e., jointly held property; life insurance; powers of appointment; retained-interest transfers, etc.). Each chapter contains a narrative explanation of the material, with important cases typically summarized rather than reproduced in full. Each chapter closes with a problem set requiring students to apply the relevant doctrine in the context of realistic hypothetical examples. A common technique in the problems is to present students sample trust language and then to ask students to identify tax pitfalls and to suggest drafting solutions around them. The authors provide their suggested answers to the problems in the comprehensive Teacher's Manual for the second edition, which also will be available in July.
Ten other books in the Graduate Tax Series also are available for adoption:
- Civil Tax Procedure (2d ed. 2008) & 2011 Supp.), by David Richardson (Florida), Jerome Borison (Denver) & Steve Johnson (Florida State)
- Corporate Taxation (2012), by Charlotte Crane (Northwestern) & Linda Beale (Wayne State)
- Employee Benefits Law: Qualification Rules and ERISA Requirements (2d ed. 2012), by Kathryn Kennedy (John Marshall) & Paul Shultz (Former Director, IRS Employee Plans Rulings & Agreement)
- Federal Tax Accounting (2d ed. 2011), by Michael Lang (Chapman), Elliott Manning (Miami) & Mona Hymel (Arizona)
- Federal Taxation of Property Transactions (2012), by Elliott Manning (Miami) & David Cameron (Northwestern)
- Partnership Taxation (3d ed. 2012), by Richard Lipton (Baker & McKenzie, Chicago), Paul Carman (Chapman & Cutler, Chicago), Charles Fassler (Greenebaum, Doll & McDonald, Louisville) & Walter Schwidetzky (Baltimore)
- Regulation of Tax Practice (2010), by Linda Galler (Hofstra) & Michael Lang (Chapman)
- Tax Crimes (2008), by Steve Johnson (Florida State), Scott Schumacher (Washington), Larry Campagna (Adjunct Professor, Houston) & John Townsend (Adjunct Professor, Houston)
- Taxation and Business Planning for Real Estate Transactions (2012), by Bradley Borden (Brooklyn)
- United States International Taxation (2d ed. 2011), by Allison Christians (Wisconsin), Samuel Donaldson (Washington) & Philip Postlewaite (Northwestern)
- For more details about the Graduate Tax Series, see here.
- Click on these links to purchase a copy of Civil Tax Procedure, Corporate Taxation, Employee Benefits Law, Estate and Gift Taxation, Federal Tax Accounting, Federal Taxation of Property Transactions, Partnership Taxation, Regulation of Tax Practice, Tax Crimes, Taxation and Business Planning for Real Estate Transactions, and United States International Taxation. Faculty can request a complimentary review copy by emailing here (in the body of your email, note the title of the book you are requesting and your contact information).
- Email me if you would like more information about the Graduate Tax Series or if you would like to submit a book proposal.