EPL 901. Elder Law. 1 Credit Hour.

This course examines the legal and financial problems affecting aging or incapacitated clients and a study of advanced planning techniques for asset protection and management systems for clients who become unable to make decisions or manage their affairs, including health care decisions; housing options; review of the use of trusts; durable powers of attorney; advance directives for health care; financing long term care; Medicare; Medicaid; guardianship issues; the special ethical issues of working with older clients; the income, gift and estate tax issues involved in "lifetime planning"; and the use of health insurance and long term care insurance.
Requisite: Plan of Estate Planning or JD/ LLM EP.
Components: LEC.
Grading: GRD.
Typically Offered: Offered by Announcement Only.

EPL 903. Ethical and Practical Aspects of Estate Planning. 1 Credit Hour.

This course focuses on the ethical and practical problems that a lawyer may encounter in various estate planning contexts. Special consideration is given to interaction with clients, including issues of representing multiple clients, fiduciaries, and disabled persons. Readings and problems also raise issues that involve questions of competence, conflicts of interest, fees, and confidentiality.
Requisite: Plan of Estate Planning or JD/ LLM EP.
Components: LEC.
Grading: GRD.
Typically Offered: Spring.

EPL 904. Fiduciary Administration. 1 Credit Hour.

This course considers selected problems in the administration of trusts and estates; appointment and qualification of fiduciaries; ancillary administration; fiduciary powers and duties, including investment duties and powers, operation of decedent's business, delegation and splitting of duties, and discretionary distribution problems; the effect of exercising powers of appointment; apportionment of taxes among the estate, trust, other entities and beneficiaries; and fiduciary accounting, including allocation of receipts and expenses. The course will also cover the application of principles set forth in recent uniform acts, including the Prudent Investor Act, the Principle and Income Act, and the Uniform Trust Code.
Requisite: Plan of Estate Planning or JD/ LLM EP.
Components: LEC.
Grading: GRD.
Typically Offered: Spring.

EPL 905. Asset Protection. 1 Credit Hour.

This course will examine the techniques and legal strategies utilized to obtain maximum wealth protection, including exemption planning, limited liability entities, domestic trusts, self-settled trusts and offshore trusts. Discussions will include income, estate and gift tax consequences of utilizing such strategies and an analysis of fraudulent transfer principles, ethical considerations, and case law developments.
Requisite: Plan of Estate Planning or JD/ LLM EP.
Components: LEC.
Grading: GRD.
Typically Offered: Spring.

EPL 908. Marital Deduction Planning. 1 Credit Hour.

This course focuses on the uses and importance of the marital deduction; when and to what extent to use the deduction, including estate equalization, use of disclaimers, and partial QTIP elections; the use of formula provisions and the various vehicles available for qualification; analysis of allowable funding options and their advantages or disadvantages; the effects of forced heirs, administration expenses and taxes; and selected marital deduction clauses.
Requisite: Plan of Estate Planning or JD/ LLM EP.
Components: LEC.
Grading: GRD.
Typically Offered: Spring.

EPL 909. International Estate Planning. 1 Credit Hour.

This course examines the income, gift and estate tax issues facing non-resident, non-citizen individuals investing in, or moving to, the United States, and of United States persons investing or working abroad, including residence, domicile, and situs issues; expatriation as a factor in estate planning; the income taxation of foreign trusts and their beneficiaries, including tax rules on the residence of trusts; grantor trust rules applying to foreign and United States grantors; a comparison of trusts to other comparable foreign entities, such as stiftungs and anstalts; the problems of the multi-country estate; ethical issues involved in international money transfers and the current anti-terrorist initiatives of the United States and the Financial Action Task Force Against Money Laundering; an analysis of United States estate tax treaties and the new income tax exchange of information treaties with tax havens; and related issues. As time permits, non-tax issues such as forced heirs and community property are also reviewed.
Requisite: Plan of Estate Planning or JD/ LLM EP.
Components: LEC.
Grading: GRD.
Typically Offered: Spring.

EPL 910. Federal Income Taxation of Trusts and Estates. 3 Credit Hours.

A study of the income taxation of estates, trusts, and their beneficiaries; distributable net income; distribution deductions for simple trusts, complex trusts and estates; distributions in kind; the planning of funding marital trusts; postmortem estate planning; taxation of trusts for minors; charitable and foreign trusts; assignment of income; income in respect of a decedent; the grantor trust rules; and income tax basis problems.
Requisite: Plan of Estate Planning or JD/ LLM EP.
Components: LEC.
Grading: GRD.
Typically Offered: Fall.

EPL 911. Corporate Tax. 2 Credit Hours.

This course covers the fundamental principles of corporate taxation.
Requisite: Plan of Estate Planning or JD/ LLM EP.
Components: LEC.
Grading: GRD.
Typically Offered: Fall.

EPL 912. Charitable Gifts and Foundations. 1 Credit Hour.

An examination of the income and transfer tax consequences of gifts to charities; uses of public charities and private foundations in the estate planning process; split interest gifts to charities; and factors to consider in drafting charitable gifts and bequests.
Requisite: Plan of Estate Planning or JD/ LLM EP.
Components: LEC.
Grading: GRD.
Typically Offered: Spring.

EPL 913. Tax Procedure. 1 Credit Hour.

This course focuses on the preparation and planning of gift, estate, and fiduciary income tax returns; the administrative process involved in an audit, including settlement procedures and administrative remedies; interest and penalties; the tax collection process; ethical considerations relating to estate tax matters; and the most current issues and how they are addressed at the audit level.
Requisite: Plan of Estate Planning or JD/ LLM EP.
Components: LEC.
Grading: GRD.
Typically Offered: Spring.

EPL 915. Chapter 14. 1 Credit Hour.

This course will examine in-depth the provisions of IRC Chapter 14, the special rules for valuing property for transfer tax purposes. The course will examine the operation of the rules under each of the four sections of the chapter and the impact of each of the rules on the valuation of transfers of property. It will cover the operation of each section and planning alternatives for transfers of interests in business organizations and transfers in trust.
Requisite: Plan of Estate Planning or JD/ LLM EP.
Components: LEC.
Grading: GRD.
Typically Offered: Spring.

EPL 920. Valuation. 1 Credit Hour.

This course examines the significance of value and fair market value for federal tax purposes and the legal authorities describing valuation methodologies applied for such purposes. Determination of the fair market value of tangible personal property, real property, and business interests including FLPs for federal transfer tax purposes is examined in depth.
Requisite: Plan of Estate Planning or JD/ LLM EP.
Components: LEC.
Grading: GRD.
Typically Offered: Spring.

EPL 924. Planning for the Family Business. 1 Credit Hour.

This course examines the use of intra-family deferred payment sales, such as installment sales, private annuities and SCINs in disposing of the closely-held business and investment assets such as real estate and marketable securities, either to the next generation or as exit strategies for cash. An empirical analysis, using financial projection software, of intra-family deferred payment sales, GRATs, charitable lead trusts, and preferred family limited partnerships is used to determine the most appropriate technique for a particular individual. The income tax impact and income tax planning techniques are an integral part of this course.
Requisite: Plan of Estate Planning or JD/ LLM EP.
Components: LEC.
Grading: GRD.
Typically Offered: Spring.

EPL 925. Drafting for Estate Planners. 1-2 Credit Hours.

This course focuses on the skills required for a successful drafting practice (both document drafting and practice management), including ascertaining a client's dispositive intentions through skilled interview techniques, diagnosis of tax and non-tax issues by the application of theoretical knowledge to the client's specific facts, further consultation with the client to refine the dispositive intentions as necessary to take into account the lawyer's recommendations, and communication through complex documents without distorting the client's intentions. The course assumes a general familiarity with the income, gift, estate and generation-skipping taxes.
Requisite: Plan of Estate Planning or JD/ LLM EP.
Components: LEC.
Grading: GRD.
Typically Offered: Spring.

EPL 926. Generation-Skipping Transfer Tax. 1 Credit Hour.

This course provides an in-depth examination of the generation-skipping transfer tax, particularly including the effective date provisions, utilization of available exemptions and exclusions, and the manner of computing the tax based on the nature of the transfer.
Requisite: Plan of Estate Planning or JD/ LLM EP.
Components: LEC.
Grading: GRD.
Typically Offered: Spring.

EPL 928. Introduction to the Probate Process. 2 Credit Hours.

This course introduces students to the probate administration process by examining the Uniform Probate Code and the pragmatic aspects of probate proceedings as well as the attorney's role as counselor in this context.
Requisite: Plan of Estate Planning or JD/ LLM EP.
Components: LEC.
Grading: GRD.
Typically Offered: Fall.

EPL 929. Life Insurance Planning. 1 Credit Hour.

This course analyzes the taxation of and planning for life insurance in an estate planning context, including a description of various life insurance products, how to read and understand life insurance policy illustrations, the statutory definitions of life insurance in an estate planning context and modified endowment contracts, the income tax and transfer tax consequences of the use of life insurance in estate planning, the planning and drafting of irrevocable insurance trusts (including an analysis of a sample form irrevocable insurance trust and related drafter's notes), and the use of more sophisticated techniques involving life insurance, such as split-dollar and premium financing techniques.
Requisite: Plan of Estate Planning or JD/ LLM EP.
Components: LEC.
Grading: GRD.
Typically Offered: Spring.

EPL 930. Planning for Distributions from Qualified Plans, IRAs and Non-Qualified Plans. 1 Credit Hour.

This course focuses on planning for distributions during the life and at the death of the owner of the benefits. Consideration is given to the types of retirement and deferred compensation plans available and to the rules relating to minimum required distributions, choosing a designated beneficiary, spousal consents and the taxation of benefits.
Requisite: Plan of Estate Planning or JD/ LLM EP.
Components: LEC.
Grading: GRD.
Typically Offered: Spring.

EPL 931. Investment Planning. 1 Credit Hour.

This course provides an overview of wealth management and investment planning. Topics include the different approaches to asset management, asset allocation and portfolio construction, manager selection and due diligence, alternative investments, and single stock risk management. The material is presented through a combination of lectures and case studies.
Requisite: Plan of Estate Planning or JD/ LLM EP.
Components: LEC.
Grading: GRD.
Typically Offered: Spring.

EPL 936. Partnership Tax. 3 Credit Hours.

This course will cover the federal income tax treatment of partners and partnerships (including the taxation of limited liability companies and other entities treated as partnerships for income tax purposes).
Requisite: Plan of Estate Planning or JD/ LLM EP.
Components: LEC.
Grading: GRD.
Typically Offered: Fall.

EPL 939. Income Tax for Estate Planning. 2 Credit Hours.

This course is designed to provide an introduction to both basic and advanced income tax principles that are the foundational building blocks for the other courses offered in the estate-planning program.
Requisite: Plan of Estate Planning or JD/ LLM EP.
Components: LEC.
Grading: GRD.
Typically Offered: Fall.

EPL 946. Federal Wealth Transfer Tax. 3 Credit Hours.

An examination of federal estate, gift and generation-skipping transfer taxes; property included in the gross estate, including prior transfers with retained powers and interests, property subject to powers of appointment, life insurance, annuities, and jointly owned property; valuation; expenses; marital deduction; and the definition of taxable gifts, including transfers in revocable and irrevocable trusts, and gifts to minors.
Requisite: Plan of Estate Planning or JD/ LLM EP.
Components: LEC.
Grading: GRD.
Typically Offered: Fall.