Trusts and Estates

LAW 702 v00 Advanced Partnership Taxation

LL.M Course | 2 credit hours

Focuses on the skills necessary (including review of transactional documents) for a tax attorney involved in advising on partnership structuring matters. Topics will include drafting the partnership agreement, allocations of tax items, amortization of partnership intangibles, classification/conversions, interplay of partnership rules on debt restructuring application of various gain triggers upon exiting from partnerships, partnership mergers and divisions, partnership equity-based compensation, and the partnership anti-abuse rules.

Prerequisite: Federal Income Taxation (formerly Taxation I); Taxation of Partnerships. Neither prerequisite may be taken concurrently.

LAW 134 v00 Decedents' Estates

J.D. Course | 4 credit hours

This course addresses intestate succession; wills, their execution, revocation, and contest; will substitutes; the nature, creation, and termination of trusts; and the interpretation and legal consequences of dispositive provisions, including problems involving future interests, class gifts, powers of appointment, and the rule against perpetuities. Modern planning for incapacity and the fiduciary responsibilities of trustees are discussed.

Recommended: Prior or concurrent enrollment in Property.

Mutually Excluded Courses: Students may not receive credit for both this course and Wills & Trusts.

LAW 134 v01 Decedents' Estates

J.D. Course | 4 credit hours

This course deals with intestate succession; wills, their execution, revocation, and contest; will substitutes; the nature, creation, and termination of trusts; and the interpretation and legal consequences of dispositive provisions, including problems involving future interests, class gifts, powers of appointment, and the rule against perpetuities. Modern planning for incapacity and the fiduciary responsibilities of trustees are discussed.

Recommended: Prior or concurrent enrollment in Property.

Mutually Excluded Courses: Students may not receive credit for both this course and Wills & Trusts.

LAW 380 v00 Retirement Income: Taxation and Regulation

J.D. Course | 2 credit hours

This course is an introduction to arrangements designed to accumulate income for retirement purposes. It focuses on broad-based, tax qualified arrangements, although considerable attention is paid to individual retirement arrangements, "non-qualified" plans for certain highly compensated employees, and certain specialized types of plans, such as 401(k) plans. The focus of the course is to gain a basic understanding of the applicable Code and ERISA requirements, as well as the policy considerations underlying these rules.

Recommended: Federal Income Taxation (formerly Taxation I).

Mutually Excluded Courses: Students may not receive credit for both this course and the graduate course, Employee Benefits: Qualified Retirement Plans, the graduate course Retirement Plan Qualification Requirements, or the graduate course, Retirement Plans - Design and Taxation. This course may not be applied to the graduate Certificate in Employee Benefits Law.

LAW 948 v00 Tax Treatment of Charities and Other Nonprofit Organizations

LL.M Course (cross-listed) | 2 credit hours

Studies the treatment of charities and other nonprofit organizations, including private foundations, churches, hospitals, trade associations, social clubs, and political organizations under the federal income tax law. Among the topics covered are the characteristics of the various classes of exempt organizations, the legislative policies underlying their exemption from tax, problems associated with qualification for and retention of exemption, joint ventures, the unrelated business income tax including corporate sponsorship, the declaratory judgment remedy, implications of racial discrimination, international activities and the treatment of lobbying and political expenditures.

Prerequisite: Federal Income Taxation (formerly Taxation I).

Note: Students may not withdraw from this class after the add/drop period ends without the permission of the professor.