In This Issue

The newest versions of Cowles Trust Plus and Cowles TrusTerminator have just been released! Check out the newest features and content in version 19.0 of these products, as well as our new Will Estate Organizer Binder.

The Family Business—Planning Techniques & Considerations
By Colleen Cowles
When a family business is involved in estate planning, it is nearly impossible to consider any steps before discussing the current business structure and family members' roles in the business. Questions of when to transfer control, the ability of beneficiaries to continue business operations, capital gains taxes, and estate taxes all need to be considered together when creating a plan under these circumstances. This article spells out what you need to think about.

Legislative Update
IRS Announces Revised Actuarial Table for Valuing Interest under Section 7520; Tax Court Determines Estate Not Liable for Penalties Resulting from Attorney's Erroneous Advice; IRS Issues Additional Guidance on Portion of Trust Property Includable in Estate If Grantor Reserved Graduated Retained Interest; IRS Unveils Annual Listing of the "Dirty Dozen" for 2009; Applicable Federal Rates for May 2009.

Cowles Tech Tips
Cowles Trust Plus provides the opportunity to generate amendments, restatements, and codicils within the software. For example, you can generate an amendment to address changes to trust the appointments or provisions or to dispositive provisions. If major changes are needed to the trust, you can use the restatement option. When wills are part of the estate plan, codicils can be generated. Cowles Members Only also provides some tips on deciding whether a trust needs amendment or restatement.

THE ESTATE PLANNER AS A WORD DOCUMENT
Access The Estate Planner as a Microsoft Word document.