2010 has brought the suspension of the federal estate tax and the federal generation-skipping transfer tax and the introduction of the carryover basis system. It is possible that these rules will endure for the duration of 2010, and be replaced by the laws effective for 2011, which will result in the restoration of the federal estate tax and the generation-skipping transfer tax and the elimination of the carryover basis system. It is also possible that changes will be made in 2010 that will be prospective only – or that will be made retroactive to January 1, 2010. If made retroactive, it is not certain if the courts will sustain a retroactive application of whatever rules are enacted. It is also possible that some of the 2010 rules expected to expire in 2011 will be continued.

*RELATED CLE COURSES, "Critical Estate Planning Decisions: 2010, 2011 And Beyond" by Steven G. Siegel.  Go to www.nlfonline.com for the online course available 24/7 and to www.nlfcle.com for the course on Audio CD or DVD. On both web sites, for CLE credits, please click on your state (or any state if you don't care about getting CLE credits) and then, under "Estate Planning", and scroll down to this title. (This course is not available for New York CLE Credits.)

This Form is an Agreement between a nursing home and a prospective resident to allow the resident to move into the nursing home where the resident will receive care. The Agreement requires the resident to assign all of the resident’s property to the nursing home in case it will be needed to provide for such care. The nursing home is given control over, but not absolute ownership of the assets of the resident.

RELATED CLE COURSE(S): Would you like to listen to, and earn CLE credits for, a course on this and/or related topics? If so, please go to www.nlfonline.com for our online CLE courses available 24/7 and to www.nlfcle.com for our CLE courses on Audio CD, DVD and CD-ROM. On both of these web sites, click on your state (or any state if you do not care about earning CLE credits) and scroll down to the course title(s) which interest you.

Please Note:  This form is also available in the package below which includes Non-Profit Corporate Certificate of Incorporation and Organizational Minutes of Trustess of Non-Profit Corporation.

This is a Form of By-laws for a non-profit corporation that will apply to the IRS for tax-exempt status as a private foundation. The By-laws are designed to address and comply with all of the IRS requirements in connection with self-dealing, disposition of assets upon dissolution, etc.

This is a Disclaimer Will. The testator leaves his/her property outright to his/her spouse, and the spouse is given the opportunity to disclaim some part, all or none of the bequest. If nothing is disclaimed, the entire bequest qualifies for the marital deduction at the first death, but fails to take advantage of the use of the exemption equivalent at the first death.

This Form is a Durable General Power of Attorney that is designed to become effective only in the event of the disability of the person granting the power. The disability must be proven by the certification of a physician that the grantor of the power is, in fact, disabled. Unlike a Power of Attorney that is effective immediately upon execution, this Form requires the physician’s affidavit as a prerequisite to becoming effective.

This Form is a Durable Power of Attorney. It is designed to be effective immediately upon execution, and to remain effective in the event of the signer’s disability or incapacity. This Form does not require any proof of disability of the person signing it.