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and Advantages and Disadvantages of QTIP Trusts Client Intake, with Retainer Agreement Drafting for Incapacity, with 4 Clauses Intentionally Defective Grantor Trust, with Provision International Asset Protection Trust IRS Reporting and International Asset Protection Trusts Protecting Beneficiaries with Spendthrift Clauses Risks and Abuses with Foreign Trusts Civil Litigation Breach of Contract Defense Interrogatories Deposing the Corporate Designee in Health Insurance Denial Case NEW Essential Objections Checklist Fraud and Misrepresentation Interrogatories Interrogatories: Breach of Contract NEW Interrogatories: Interference with Business Relations Interrogatories for Proving Plaintiff’s Cause of Action in an Auto Accident Case Preparing to Take or Defend a Liability Deposition Summarizing Personal Injury Damages Wrongful Death Interrogatories California Civil Litigation NEW Elements with Complaint: Breach of Contract for Failure to Perform NEW Elements: Breach of Implied Covenant of Good Faith and Fair Dealing NEW Objecting to Expert Testimony Criminal Law and
Practice Challenging Written Statements Cross-Examination of Eyewitnesses Federal Criminal Practice Pretrial Release on Conditions Drunk Driving
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4 DUI Jury
Instructions You Need to Argue Attacking Field Sobriety Tests Attacking Widmark Calculations Cross Examination in Drunk Driving Cases
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DUI Trial Tips Pattern Openings for DUI Attorneys Selecting a Favorable DUI Jury Voir Dire Questions for DUI Lawyers
Informal Request for Discovery from Prosecution Motions to Exclude Chemical Test
Tipsters and Employment Defending Plaintiff's Deposition NEW Deposing the HR Manager in RIF Cases Deposing the Supervisor/Harasser NEW Document Requests in Sexual Harassment
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Fair Labor
Standards Act Jury Instructions Fee Arrangements, with Clauses Shaping the Unripe Employment Cases NEW Supervisor Deposition Questions for Harassment, Retaliation, and ADA Family Personal Injury NEW 3 Motions in Limine to Exclude Junk Accident Reconstruction Science Cross-Examining the Defense Orthopedic Surgeon Debunking Claims of Exaggeration and Malingering Deposing and Examining the Economist Deposing the DME in Spine Injuries Deposing the Store Manager in a Slip and Fall Case Social Security
Disability NEW Alternate Sitting and Standing Questions for the VE Attacking the Vocational Expert’s Testimony on the Number of Jobs Classifying a Claimant’s Previous Work Experience as Past Relevant Work Cross-Examination on U.S. Publishing Data Cross-Examination of Vocational Expert on Census Data Dealing with Drug Addiction or Alcoholism in Social Security Disability Claims Framework of the Medical-Vocational Guidelines Hearing Questions on Physical Residual Functional Capacity Information Required to Perform a Step-Four Analysis
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Initial Hearing
Questions for Claimant Maximum Residual Functional Capacity Possible for Disability Finding
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Protect Attorney’s Fees From
Being Taken to Pay Client’s Debts Pushing Back the Date the Claimant Became Disabled NEW Residual Functional Capacity in Musculoskeletal Impairments Social Security Disability Benefits: Answers to Common Questions Transferability of Skills: Principles and Cross Examination Using the Occupational Outlook Handbook in your Cross Examination
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Advantages and
Disadvantages of QTIP Trusts Determination of incompetency, withdrawal procedures after incompetency, selecting the assets, and forms by N. Dean Hawkins Excerpted from
Advantages First Spouse to Die Can
Control Disposition QTIP trusts, unlike any other form of marital deduction transfer, allow the first spouse to die to control the disposition of his or her property after the death of the surviving spouse. QTIP trusts are often used for this purpose, particularly when the spouses have been previously married and have children from prior marriages. Not Included in Probate
Estate The assets remaining in a QTIP trust upon the death of the surviving spouse will not be either:
Post-Mortem QTIP Election
Decisions The availability of the marital deduction under IRC §2056(b)(7) and the resulting inclusion of the property in the QTIP trust in the surviving spouse’s gross estate is contingent upon the executor of the first spouse to die making a QTIP election. In certain situations, it may be more advantageous to decline to make the QTIP election. In other situations, making a partial QTIP election, which is permissible, may be more advantageous. A QTIP trust allows the executor of the first spouse to die to make these decisions after the death of the first spouse. [For more, see §11:92.] Reverse QTIP Election With a QTIP trust, a reverse QTIP election may be made. [See IRC §2652(a)(3).] A reverse QTIP election permits the executor of the first spouse to die to elect that the QTIP trust will continue to be treated, for purposes of the GST, as property transferred by the first spouse to die, even though the trust property is otherwise treated as belonging to the surviving spouse for estate and gift tax purposes. Typically, a reverse QTIP election is made to allow the first spouse to die to utilize a portion of the GST exemption that otherwise might not be used. A reverse QTIP election is only necessary when the amount of the GST exemption exceeds the applicable exclusion amount. Presently, the amount of the GST exemption is equal to the applicable exclusion amount. [See IRC §2631(c). For more on reverse QTIP elections, see §11:110.] Disadvantages Conflicts Between Surviving
Spouse and Remainder Beneficiaries The primary disadvantage of a QTIP trust is the potential conflict between the surviving spouse and the remainder beneficiaries that may arise in regard to investment strategy, tax strategy, adequacy of accountings, and trust administration. The potential for conflict is attributable to the surviving spouse’s lack of control over the remainder interest and the ability of the first spouse to die to control the disposition of his or her property after the death of the surviving spouse, which is of course the primary advantage of a QTIP trust. The likelihood for conflict depends on:
Inability to Obtain Funds to
Make Tax Advantageous Gifts Even though the requirements for QTIP trusts to qualify for the marital deduction do not prohibit granting powers to the surviving spouse to withdraw principal from the trust, the typical QTIP trust does not grant liberal withdrawal powers to the surviving spouse. Such withdrawal powers, if granted, might be exercised by the surviving spouse to defeat the objectives of the first spouse to die regarding the division of the remainder interest upon the death of the surviving spouse. Due to the surviving spouse’s lack of withdrawal powers, he or she may not be able to obtain from the QTIP trust the necessary funds to make inter vivos gifts to the next generation, even when the gifts would fall within the annual exclusion in IRC §2503(b). This is inconsequential if the surviving spouse has access to other assets with which to fund the gifts.
N. Dean Hawkins has a general tax practice in |
