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Practical Drafting®

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Practical Drafting, published by U.S. Trust, Bank of America Private Wealth Management, is the authoritative resource that estate planners and administrators rely on to keep current. It provides expert perspective on a broad range of estate planning issues, and is a comprehensive research tool for answers to most estate planning questions. Written by Richard B. Covey, Esq. and Dan T. Hastings, Esq., Practical Drafting provides two powerful resources: Quarterly Commentaries, an ongoing journal and the Trust & Will Provisions Manual, a comprehensive formbook. Members of U.S. Trust's Office of Chief Fiduciary assist Messrs. Covey and Hastings with identifying topics of interest, research, and editing the publication.

For more information about Practical Drafting® contact: 

Theresa Pereira 
Circulation Manager 
212.852.3537

 

Erica Bielemeier Slezak
Regional Fiduciary Advisor
212.852.3628 

 

Subscribing to Practical Drafting

An annual subscription to Practical Drafting is available in hardcopy.

  • One year subscription includes the Trust & Will Provisions Manual and Quarterly Commentaries: $500
  • Quarterly Commentaries sent by First-Class Mail: additional $25

Marital Deduction and Credit Shelter Dispositions and the Use of Formula Provisions

This book and its annual supplement provides, in a single source, comprehensive and in-depth knowledge on this topic. It reflects all developments in this area since 1984, including the impact of the American Taxpayer Relief Act of 2012. The book features:

  • Descriptions and comparisons of the principles behind pecuniary amount and fractional share credit shelter and marital deduction dispositions
  • Estate planning considerations
  • Model credit shelter and marital deduction forms
  • A discussion of the impact of state death tax laws and the significance of IRC Sec. 2058
  • An up-to-date appendix on state laws governing which types of dispositions
  • An up-to-date state death tax survey chart
  • An analysis of the Hubert regulations

This publication, acknowledged to be the single most useful work in this subject area, has been cited frequently over the years in case law as well as scholarly publications. You may order this book as a standalone order or with Practical Drafting.

  • For subscribers of Practical Drafting: $250
  • For non-subscribers: $275

 

Information for Attorneys

U.S. Trust is committed to building deep, lasting relationships with clients and families. Among the capabilities of immediate importance to many attorneys is the ability to serve as agent in carrying out many of the details of administering a trust or estate, or to assume the full responsibilities as Trustee or Executor/Personal Representative.

Attorneys seeking guidance on the designation of U.S. Trust in documents you might be drafting on behalf of your clients:

  • You should use "Bank of America, N.A." in documents when naming U.S. Trust in a fiduciary capacity; while the business is branded U.S. Trust, the legal entity is Bank of America, N.A.

  • After the first reference to "Bank of America, N.A.," you may want to immediately follow that reference with the parenthetical "(hereinafter known as U.S. Trust)," with all subsequent references throughout the instrument then being to "U.S. Trust"

  • With respect to inter vivos trusts where an officer is asked to sign on behalf of the bank currently in its fiduciary capacity, the actual signature line should read "Bank of America, N.A."

  • If you wish to name our Delaware entity in a fiduciary capacity, the entity name "U.S. Trust Company of Delaware" should be used.

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