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![handle is hein.ali/aaespl0007 and id is 1 raw text is: ALI-ABA ESTATE PLANNING
COURSE MATERIALS JOURNAL
VOLUME 7 FEBRUARY 2001 NO. 1
I OTET
ALI-ABA Estate Planning
Course Materials Journal:
Motivating the Family Mark T. Carroll, Editor;
Business Owner To Act Philip M. Manley, Assistant Editor;
Micalic D. Alln 5 Herb Powell, Art Director;
Over the next several years, an estimated 43 percent of the nation's Joseph Mendicino, Circulation Manager;
family-owned businesses will change leadership; but family busi- Kathleen H. Lawner, Advertising Director
ness successions are vcry problematic and their rate of failure is
high. Conventional strategies and legal structures are not enabling
families to o\'ercome succession obstacles. The author explains how
mission-based succession planning can produce better results than The American Law Institute-
the more traditional tax-driven succession planning. American Bar Association
Updated froni the ALI-ABA Course of Stidy Estate Planning for the Committee on Continuing
Family Business Owner, cosponsored 1in! the ABA Section of Real Professional Education
Propertiy, Probah and Trust Law, August 10-12, 2000.
Michael Traynor, Chair
Marital Deduction Planning for the Martha W. Barnett, Vice Chair
Non-Citizen Spouse (Part 1)
Max Gutierrez, JIr 47 Jacqueline Alice e Austin G. Anderson
The Technical and Miscellaneous Revenue Act of 1988 (TAMRA) Edward R. Becker Charles L. Becton
denies the marital deduction for property passing at death to a sur- Tom Bolt * Bennett Boskey @ Paul J. Bschor
viving spouse who is not a U.S. citizen. Before TAMIA, citizenship JoAnne A. Epps * Elise A. Geltzer
had never been a requirement for qualification for the marital deduc-
tion. Similarly, the marital deduction for gifts to a spouse is denied
when the donee spouse is a non-citizen spouse. To provide some Theodore A. Kolb * A. Leo Levin
relief to the non-citizen spouse and to insure the collection of tax, Lance Liebman * Scott D. Makar
TAMRA introduced the qualified domestic trust (QDOT). This Susan R. Martyn * Karen J. Mathis
Part 1 commences an analysis of the applicable law. Lizabcth A. Moody * John -1. Morrison
Updated from the ALI-ABA Course of Stdy International Trust and Joseph J. Ortego Pamela D. Perdue
Estate Planning, Auigust 3-4, 2000. Sherwin P. Simmons * Win. Reece Smith, Jr.
Mervin M. Wilf
Richard E. Carter, Executive Director
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