Thursday, February 10, 2011
Raymond C. O’Brien (Professor of Law, Columbus School of Law) and Michael T. Flannery (Judge George Howard, Jr. Distinguished Professor of Law, University of Arkansas at Little Rock School of Law) recently published their book entitled Decedents’ Estates: Cases and Materials, Second Edition (Carolina Academic Press, 2010). The publisher’s description is below:
The second edition of Decedents' Estates builds upon the former. The authors have sought to use cases with interesting and instructive factual contexts. They have also updated state, federal, uniform, and international statutes, and they have used the same logical sequencing, together with Tool Bars at the start of each chapter. Of course, the teacher's manual has been rewritten, and additional exam questions and feedback sheets have been added.
Noteworthy additions to the new edition include the following:
- Recent revisions made to the Uniform Probate Code, including new rules for notarized wills, posthumous conception, elective share, and an expanded definition of parent-child.
- The new standards for prudent investing pertaining to responsible investing, removal of a trustee, pet trust requirements, trust protectors, unitrusts, and public policy restraints. The economic crisis of 2008 precipitated many federal and wealth management changes, and these changes have been highlighted.
- Developments in federal and state taxation, pertinent to understanding what has occurred with the federal estate tax and the generation skipping tax, have consequences for state laws pertaining to taxation and the Rule Against Perpetuities. These consequences have been integrated into the material.
- Observations from noted scholars and practitioners have been included, offering insights into the future of investing, wealth management, and supervision. Also, included are extensive citations to legal periodicals, Web addresses, and professional commentary, thereby providing additional material for classroom discussion.
- Finally, we have enhanced the material on planning for incapacity, to include the new statutes on anatomical gift giving, a checklist of planning items, and some good illustrations of the perils of incapacity and capriciousness from the lives of some notable persons.
Less than one-thousand pages, the book provides a mechanism for the professor to incorporate the foundations of wills, trusts, and guardianship, plus provide a means of transition into the modern worlds of wealth transfer and wealth management.