Trusts & Estates Section Digest
Winter 2012
Upcoming Events Welcome to the Trusts & Estates Newsletter!
• 4/4: Charitable Planning Opportunities

• 6/13: CLE - Trusts & Estates Year in Review 2012
The Boston Bar Association’s Trusts & Estates Section Communications Committee is pleased to present the winter 2012 newsletter.

The Trusts & Estates Section newsletter provides Section members with an overview of the content published to the BBA Trusts & Estates Section Blog in recent months and links directly back to the full article. To receive notices of articles as they are published to the blog, please subscribe to the blog’s email notifications or RSS feed.

Links Highlighted Articles
Section Webpage




Final Regulations re: IRC § 2036 and the Extent of Gross Estate Includibility of Grantor's Retained Interest
By Nikki Marie Oliveira, Esq., LL.M., Margolis & Bloom, LLP
February 2, 2012

On November 8, 2011, the IRS published T.D. 9555, final regulations regarding the includibility of property (regardless of whether held in trust) in the grantor’s gross estate under I.R.C. § 2036 where the grantor retained: (1) the use of the property; (2) the right to an annuity or unitrust; (3) a graduated retained interest; or (4) other payment from the property ... more

Final Directive Released Regarding Massachusetts Cost Basis for Assets Passing At Death in 2010 and Thereafter
By Brad Bedingfield, Esq., Wilmer Cutler Pickering Hale and Dorr LLP
January 13, 2012

As we reported here, on October 11, 2011, the Massachusetts Department of Revenue issued, for practitioner comment, a two-part draft Directive addressing the extent to which assets passing from Massachusetts decedents in 2010 and thereafter may receive a step-up in cost basis for purposes of Massachusetts capital gains tax. In draft Directive 2, the DOR interpreted the law as providing that the Massachusetts cost basis of property acquired from decedents who die in 2011 or thereafter is full "stepped-up" basis ... more

IRS Rev Ruling 2011-28: Grantor’s Power to Acquire Insurance Policy by Substituting Assets Does Not Cause Estate Tax Inclusion Under IRC § 2042
By Caleb Sainsbury, Esq., Pabian & Russell, LLC
January 6, 2012

The IRS issued Revenue Ruling 2011-28 on December 5, 2011 regarding the includability of a nonfiduciary power held by the grantor to acquire an insurance policy on the grantor’s life from an irrevocable trust by substituting assets of equivalent value. This ruling is important because it resolves the issue of whether the grantor’s retention of a power, exercisable in a non-fiduciary capacity, to acquire an insurance policy on his life owned by an irrevocable trust by substituting assets of equivalent value causes the insurance policy to be includible in the grantor’s gross estate under § 2042 ... more
  Blog Articles


BBA Trusts & Estates Section Program Recap – January 2012
February 16, 2012

T&E Litigation Update - Rochalski v. Sklodowski

February 15, 2012

BBA Trusts & Estates Section Program Recap – Fall 2011

January 22, 2012

T&E Litigation Update - Purcell v. Landers

January 8, 2012

Massachusetts Uniform Probate Code Delayed 90 Days

January 3, 2012

Effective Date of Probate Code Overhaul Likely to be Delayed
December 22, 2011

Probate Court Begins to Release MUPC Forms

December 21, 2011

Massachusetts Uniform Trust Code Passes Senate

December 19, 2011

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