CCH Books Help Professionals, General Public Understand Estate Tax "repeal"
(RIVERWOODS, ILL., August 21, 2001) Is the estate tax dead, dying or just
playing possum? That is the question that many people of means and their financial
advisors will have to think about in the wake of the recently passed Economic Growth and
Tax Relief Reconciliation Act of 2001, according to CCH INCORPORATED (CCH), a leading
provider of tax law information and software (http//tax.cchgroup.com).
To help both the general public and the professional community understand and cope with
the changes, CCH has published two helpful new titles: Estate Planning Under the New
Law: What You Need to Know (32 pages, single copy price $7; quantity discounts
available) and Estate Planning Strategies After Estate Tax Reform: Insights and
Analysis (168 pages, $45. To order or for more information on either title, call
1-800-248-3248 or visit http://tax.cchgroup.com/onlinestore.)
Estate Planning Under the New Law: What You Need to Know is an executive summary
of the important points in the new Act written in non-technical language. It points out
opportunities and pitfalls to those whose estate and financial plans might be affected by
the latest legislation. It is also the perfect vehicle for planning professionals to give
to their clients as an introduction to the new law and a starting point for informed
dialogue about its implications.
Estate Planning Strategies After Estate Tax Reform: Insights and Analysis, by
the Estate Planning Department of Schiff Hardin & Waite, Chicago; Coordinating
Editors: Charles D. "Skip" Fox IV and Thomas W. Abendroth. This book is a
concise, practical reference on new estate planning strategies
in light of estate tax reform written for tax and wealth planning professionals.
"Many newscasts said that the Act repeals the estate tax, but the
actual provisions of the new law regarding estate, gift and generation-skipping taxes are
complex and phase in over many years," said Renee Coon, marketing manager for the CCH
Federal and State Tax Group. "Its important for laypersons and professionals
alike to understand what the law really does and what it means in practical terms.
Thats why we are bringing out these two books."
Guide for the General Public
Estate Planning Under the New Law: What You Need to Know is written for the
layperson who wants to understand the main features of the new law. It explains why estate
planning takes on added importance because of the 2001 Act, highlights the new estate and
gift tax changes, points out major planning traps hiding in the new law and evaluates
tried-and-true techniques in light of the new rules.
The booklet also points out that estate planning includes how people arrange their
finances as they prepare for and enjoy retirement. It discusses the added opportunities
available for retirement savings brought about by the Act and shows the interaction
between retirement plans and estate planning.
"Many planners will find this booklet to be a great way to alert their clients to
the changes in the new law and the need to take a fresh look at their plans," Coon
said. "With that in mind, weve made it especially attractive for professionals
to purchase it in large quantities with the added option that firms can have their names
printed on the booklets front cover."
Professionals Must Reexamine Strategies
Estate Planning Strategies After Estate Tax Reform: Insights and Analysis
is a concise but thorough reference on new estate planning
strategies in light of the new estate tax changes. It clearly demonstrates how the
legislation affects planning strategies, both during the period in which the taxes are
phased out and after the phase out.
Concisely written, it is relevant for all tax and wealth planning professionals
attorneys, accountants, fiduciaries, insurance agents, family office managers, bank trust
departments or other professionals active in the estate planning field.
Using numerous examples, Estate Planning Strategies After Estate Tax Reform
explains how the new law works, what new planning opportunities are available for clients
and customers and what planning techniques are rendered unnecessary or potentially harmful
by the new law. It also points out areas in which the new law is unclear or in need of
clarification or technical amendments.
Among the important topics covered in this new practical guide are:
- The continued need for estate planning
- Techniques that should be used and those that should not be used
- Planning during the phase-out period, including planning under the possible loss of
state death tax credit and QFOBI deduction
- Planning after full repeal, including planning for possible reintroduction of estate tax
- Planning scenarios for different taxpayers, e.g., clients not expected to survive until
- Capital gains tax and dealing with the complexities of carryover basis
- Planning in light of retirement plan and IRA provisions changes
- Continued use of trusts for asset management and protection
- Use of trusts for income tax planning and avoiding gift tax
- The impact of repeal on the many types of professionals involved in estate planning,
such as attorneys, accountants, insurance agents, financial planners, bank trust
departments and charities
"Anyone involved with wealth and estate planning
will not want to miss this opportunity to get up to speed on what the new law contains and
what it means for their clients over the upcoming decade," Coon said.
About the Authors
The principal co-authors of Estate Planning Strategies After Estate Tax Reform
are Charles D. "Skip" Fox IV and Thomas W. Abendroth, of the law firm Schiff
Hardin & Waite in Chicago.
Charles D. "Skip" Fox IV is a partner and trust attorney with Schiff Hardin
& Waite. He also teaches at Northwestern University School of Law in Chicago as an
adjunct professor, and at the National Trust and National Graduate Trust Schools of the
American Bankers Association. He is the author of numerous articles, writing a bimonthly
column for Trusts & Investments, as well as serving on its editorial board. He
has also authored Estate Planning with Life Insurance, a volume in the CCH
Solutions for Financial Planning Internet library, and co-authored the Tax Law
Guide and the Fiduciary Law and Trust Activities Guide for the American Bankers
Thomas W. Abendroth is a partner and trust attorney with Schiff Hardin & Waite. He
is the author and co-author of numerous articles for Trusts & Estates, as well
as a member of the editorial advisory board for Trusts & Investments. He also
co-authored the Tax Law Guide and Fiduciary Law and Trust Activities Guide
for the American Bankers Association and the two-volume treatise Illinois Estate
Planning, Will Drafting and Estate Administration FormsPractice.
Pricing and Availability
For more information or to purchase either the 32-page Estate Planning Under the New
Law: What You Need to Know or the 168-page Estate Planning Strategies After Estate
Tax Reform: Insights and Analysis, call 1-800-248-3248 or visit http://tax.cchgroup.com/onlinestore.
Single copy price of Estate Planning Under the New Law: What You Need to Know is
$7; single copy price of Estate Planning Strategies After Estate Tax Reform: Insights
and Analysis is $45. Volume discounts and school adoption pricing are available.
About CCH INCORPORATED
CCH INCORPORATED, headquartered in Riverwoods, Ill., was founded in 1913 and has served
four generations of business professionals and their clients. The company produces more
than 700 electronic and print products for the tax, legal, securities, human resources,
health care and small business markets. CCH is a wholly owned subsidiary of Wolters Kluwer
North America. The CCH web site can be accessed at www.cch.com. The CCH Federal and State Tax Group web site can be
accessed at http://tax.cchgroup.com.
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