Description

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The Seventh Edition confronts continued and, indeed, increased instability. The new instability follows a relatively short lull after a period of unprecedented instability, including since 2001, increases in exemptions, reductions in rates, the repeal and restoration of the estate tax and the generation-skipping tax, the installation of a system of portability of the unused portion of the estate tax exemption of a predeceasing spouse, the advocacy by leading politicians of repeal of the taxes and, by others, of drastic increases in the taxes and the enactment of wealth taxes, and, probably most importantly, of a worldwide plague against which individuals, groups and even nations were unable to protect themselves.

Variations of techniques that have appeared in all prior editions of this book are the techniques of choice for the present environment. More than ever, flexibility is the hallmark.

About the Author

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Jerold I. Horn, a member of the Illinois and Pennsylvania bars, practices law in Peoria, Illinois. He is a graduate of Princeton University (AB, summa cum laude) and Yale University Law School. He is a fellow and past president of the American College of Trust and Estate Counsel, a fellow of the American College of Tax Counsel, a member of the American Law Institute, and a former visiting adjunct professor at the University of Miami Law School. He has written numerous articles about estate planning, authored both editions of Planning and Drafting for the Generation-Skipping Transfer Tax (ALI-ABA 2d ed. 1994), coauthored many editions of Drafting Wills and Trust Agreements (Ill. Inst. Cont. Leg. Ed. 1990), and lectured frequently at tax plan-ning institutes and continuing education programs.