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  ALI-ABA Estate Planning Course Materials Journal
  Volume 14, Number 3, June 2008
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  • Lawyer As Trustee
        Susan L. Repetti
        p.5                                                                                          +cite        
        Settlors may exonerate a trustee from personal liability for exercising discretion in performing certain acts through the use of an exculpatory clause. When a drafting attorney inserts an exculpatory clause in an instrument for which the attorney is also the named trustee, however, the propriety of inserting the clause must be closely examined.
  • Income Tax Considerations In Settlements And Judgments (With Sample Provisions And Drafting Checklists)
        Mickey R. Davis
        p.13                                                                                        +cite        
        In settlements involving estate and trust litigation, the impact of estate, income, and gift taxes should be considered at the initial stages of negotiation, if possible, and before finalizing a settlement, at a minimum. This outline is intended to provide an overview of the various income tax issues relating to settlement agreements reached in will contests, trust disputes, and breach of fiduciary duty lawsuits.
  • Split Dollar Insurance And Premium Financing Planning (Part 1)
        Donald O. Jansen
        p.45                                                                                        +cite        
        Split dollar arrangements have been around for many years. In more recent years, split dollar arrangements have been used in a wealth transfer context; the insurance policy is owned by an irrevocable life insurance trust (under the loan regime) or the death benefit is owned by the trust (under the economic benefit regime). For wealth transfer purposes, the premium payer may be the employer, a closely held family company, or even the insured or a family member of the insured.