Minnesota Estate Planning, Wills and Trusts Library: Forms and Practice Manual

Minnesota Estate Planning, Wills and Trusts Library: Forms and Practice Manual

 Prominent Minnesota attorney, Clayton W. Chan, Esq., has drawn from his extensive experience to bring you insightful strategies and relevant forms for virtually every estate-planning situation you may encounter in this newly revised two-volume manual featuring a bonus CD with more than 270 electronic forms.

This extensive, updated Manual, featuring more than 1,300 pages of content, will help you stay current and efficient by providing appropriate statutes and regulations–complemented by thorough discussions and analyses of the changing federal and Minnesota state laws. Plus, you’ll be expertly guided through an extensive selection of wills and trusts forms using an easy-to-follow, situation-oriented format. Included are client presentation charts and customizable electronic forms for wills and trusts as well as explanations and planning strategies for estate, gift, and generation-skipping tax.

Recent updates include:

• Updates as to current exclusion and exemption amounts.
• New Form 23-9: Spousal Limited Access Trust for Married Settlor Trust can be Funded with a Gfit of the Federal Gift Exclusion; Spouse has Access to Gfited Exclusion; Separate Trsuts for Children on Settlor's Spouse's Death..
• Updated and revised charts throughout the Manual.
• All of the forms in the Manual conveniently provided on the accompanying CD for your immediate use.

Clayton W. Chan, Esq., is Principal at Chan, PLLC law office. Clayton previously chaired the Estate Planning department of the Minneapolis office of Stoel Rives, LLP, and was a Partner at the law firms of Moss and Barnett, Lindguist & Vennum and Winthrop & Weinstine. Mr. Chan believes that, at its core, estate planning is about people, relationships, and families. In this connection, Mr. Chan emphasizes personal attention in working closely with individuals and families to craft customized and holistic estate plans that address their personal, emotional, financial, and tax-driven goals and objectives. A large part of Mr. Chan’s practice also involves working closely with owners of closely-held businesses regarding succession and family legacy planning. In the tax area, Mr. Chan focuses his practice on helping clients efficiently pass their wealth onto the next generation and reducing their estate, gift, and generation-skipping taxes. His specific areas of experience include: drafting core estate planning documents for various wills and revocable trusts, including those that use Grantor Retained Annuity Trusts, intentionally defective Grantor Trusts and buy-sell/shareholder agreements; charitable planning; Trust litigation matters; international estate planning; preparation of settlement trust agreements in personal injury cases; and more. In 2007, he was honored as one of Minnesota’s "Up and Coming Attorneys" by Minnesota Lawyer and was previously recognized as one of the Rising Stars® as published by Minnesota Law & Politics. He received his undergraduate degree from the University of Minnesota (cum laude), later completing the major degree requirements toward a Masters of Business Taxation from the Carlson School of Management. He earned his J.D. at the University of Minnesota Law School (cum laude).

» View Full Table of Contents [PDF]

SUMMARY TABLE OF CONTENTS

PART I: ESTATE PLANNING: A PRACTICE-ORIENTED APPROACH

Chapter 1: How to Use this Book

Chapter 2: Estate Planning: Essential Objectives

PART II: SIMPLE WILLS: FOR MARRIED COUPLES WITH COMBINED ESTATES NOT EXCEEDING ESTATE TAX EXEMPTION

Chapter 3: Simple Wills for Married Couples with Adult Children

Chapter 4: Simple Wills for Married Couples with Minor Children

PART III: TAX PLANNING WILLS WITH CREDIT SHELTER/BYPASS TRUSTS IN COMBINATION WITH MARITAL BEQUEST (OUTRIGHT OR QTIP TRUST): FOR MARRIED COUPLES WITH COMBINED ESTATES EXCEEDING ESTATE TAX EXEMPTION

Chapter 5: Strategic Planning with Credit Shelter/Bypass Trusts

Chapter 6: Tax Planning Wills with Credit Shelter/Bypass Trusts in Combination with Marital Bequest (Outright) -- for Married Couples with Combined Estates Exceeding Estate Tax Exemption

Chapter 7: Strategic Tax Planning with Marital/QTIP Trusts ("A" Share) in Combination with Bypass Trust ("B" Share): the "A-B" Trust Structure

Chapter 8: Tax Planning Wills with QTIP and Bypass Trusts: for Married Couples with Combined Estates Exceeding Estate Tax Exemption (Pecuniary Formula)

Chapter 9: Tax Planning Wills with Marital ("A") and Credit Shelter ("B") Shares: Use of Pecuniary Credit Shelter and Residuary Marital Bequests (Reverse Pecuniary Formula) Where One Spouse Has Estate Significantly in Excess of Estate Tax Exemption

PART IV: "FLEXIBLE" TAX PLANNING WILLS WITH DISCLAIMER TRUSTS: MARRIED COUPLES WITH COMBINED ESTATES APPROACHING OR EXPECTED TO EXCEED ESTATE TAX EXEMPTION OR WHO DESIRE A FLEXIBLE APPROACH

Chapter 10: Strategic Planning with "Flexible" Disclaimer Trusts

Chapter 11: Tax Planning Wills with Disclaimer Trusts

PART V: GENERATION-SKIPPING TRANSFER ("GST") TAX PLANNING WITH GENERATION-SKIPPING TRUSTS -- FOR LARGE ESTATES

Chapter 12: Strategic Planning with Generation-skipping Trusts

Chapter 13: Tax Planning Wills with Generation-skipping Trusts

PART VI: WILLS FOR UNMARRIED INDIVIDUALS (SINGLE, WIDOWED, DIVORCED)

Chapter 14: Wills for Unmarried Individuals (Single, Widowed, Divorced)

PART VII: REVOCABLE (LIVING) TRUSTS AND POUR-OVER WILLS

Chapter 15: Strategic Planning with Revocable Trusts as Primary Testamentary Instrument

Chapter 16: Revocable Trusts and Pour-over Wills for Unmarried Individuals

Chapter 17: Revocable Trusts and Pour-over Wills for Married Couples without Tax Planning (Combined Estates Not Exceeding Federal Estate Tax Exemption)

Chapter 18: Revocable Trusts and Pour-over Wills with Credit Shelter/Bypass Trusts - for Married Couples with Combined Estates Exceeding Estate Tax Exemption

Chapter 19: Revocable Trusts and Pour-over Wills with Marital/QTIP Trust in Combination with Credit Shelter/Bypass Trust: The "A-B" Trust Structure (Combined Estates Exceed Estate Tax Exemption)

Chapter 20: Revocable Trust and Pour-over Will for Married Couple with Disclaimer Trust Option Upon Death of Settlor

Chapter 21: Revocable Trust for Married Settlors with Generation-skipping Trusts

PART VIII: STRATEGIC ESTATE PLANNING WITH IRREVOCABLE TRUSTS

Chapter 22: Irrevocable Life Insurance Trusts (ILITS)

Chapter 23: Strategic Planning with Irrevocable Trusts

Chapter 24: Trusts for Subchapter S Stock

Chapter 25: Retained Interest Trusts: QPRTs and GRATs

PART IX: CHARITABLE GIFT PLANNING

Chapter 26: Charitable Gift Planning

Chapter 27: Trusts for Individuals with Special Needs

PART X: ALTERNATIVE DRAFTING FORMS

Chapter 28: Alternative Drafting Forms

Chapter 29: Slected Planning Strategies and Techniques

PART XI: SUMMARIES OF SELECT ESTATE PLANNING PRACTICE AREAS AND STRATEGIES

Chapter 30: Select Estate Planning Summaries - Minnesota and Federal Law

PART XII: INDICES