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November 2006 Minutes and December 2006 Meeting Agenda

NOTICE OF MEETING AND REPORT

TO: TRUST AND ESTATE LAW SECTION ORANGE BOOK FORMS COMMITTEE

FROM: Franklin E. Lynch

DATE: December 11, 2006


NEXT MEETING

The next meeting of the Orange Book Forms Committee will be held on THURSDAY, DECEMBER 14, 2006 from 9:00 a.m. to approximately 10:30 a.m. at the Colorado Bar Association Continuing Legal Education offices in the small classroom on the Third Floor, 1900 Grant Street, Denver, Colorado.

 

If you would like to be present at the meeting via telephone, the number is 888-272-7337 and the conference ID number is 557-8791#.

 

Please contact Terri Jones at tjones@cobar.org or 303-824-5366 by Wednesday, December 13, 2006, at 5:00 p.m., if you would like to participate via telephone so we can ensure that you receive the proper handouts before the meeting on Thursday.

 

If you are a member of a subcommittee, as listed in the agenda below, and cannot attend the December 14, 2006, meeting, please email Frank Lynch (kruselynchpc@qwest.net ) or fax (719-471-7750) an update of your subcommittee’s progress by Tuesday, December 12, 2006.

 

AGENDA: FOR DECEMBER 14, 2006 MEETING

I. Welcome and Call to Order

A. Introductions

B. Attendance Sheet

C. Approval of minutes of the November 16, 2006 meeting.

II. Current Projects

A. Short Form Joint Trust – Dennis Whitmer

B. Engagement Letter – Connie Eyster, Connie Wood, Julie McVey

C. Joint Trust – Bette Heller and Carl Stevens

D. Single Person Nontrust Will – Randy Robida

E. Single Person Pour Over Will – Rich Pierce

 

III. Other Subcommittee Reports

A. Single Person Estate Planning Forms

Form No.

Title

Drafter

6

Nontrust Will

Randy Robida and Gene Zuspann

7

Will with Contingent Trust

Mike Holder and Peggy Gardner

10

Pourover Will

Rich Pierce

15

§2503(c) Trust

Dennis Whitmer

17

Single Life Irrevocable Life Insurance Trust

Carolyn Clawson

22

Estate Planning Questionnaire

Connie Tromble Eyster and Sonny Wiegard

Tab C

Engagement Letter

Melissa Montgomery-Fitzsimmons


B. QDot Review – Peggy Gardner

C. Uni Trust Language – Gene Zuspann

D. Trust Funding Letter – Connie Eyster

E. Revisions to Notes on Use to Form 17, § 6.2 (Common Trust for Descendants) – Carolyn Clawson

 

IV. New Matters & Announcements

 

V. Adjournment

 

MINUTES OF THE MEETING HELD ON NOVEMBER 16, 2006

 

2. Approval of October Minutes. After numerous comments about the quality and overall excellence of the Minutes prepared for the October 19, 2006 meeting, those Minutes were approved.

3. IRA Beneficiary Designation Form. Barbara Dalvano reported that, after reviewing a number of issues associated with the proposed IRA Beneficiary Designation Form, the sub-committee had concluded that it was probably not a good idea to put the form into the Orange Book at this time. In the course of discussing the issue, it was the consensus of the Committee that it might be appropriate to add a discussion regarding IRA beneficiary designation in the Estate Planning Handbook and to mention the issues regarding IRA beneficiary designations in the Orange Book introduction. After discussion, the Committee approved a motion to indefinitely postpone creation of an IRA Beneficiary Designation Form for the Orange Book.

4. Pour Over Will for Single Person. Chairman Frank Lynch relayed a report about the status of the work on the Pour Over Will for Single Person, indicating that work was in process by Richard Pierce.

5. Short Form Joint Trust. Dennis Whitmer continued his presentation of the proposed Short Form Joint Trust. The Committee discussed a number of provisions in the proposed document, including potential gift tax issues associated with the form. The Committee concluded that it would be appropriate to include a note making it clear that changes to the form language could result in unintended gift tax consequences. The Committee also concluded that Article 2 should be eliminated, and discussed whether it would be appropriate to include a provision regarding trustee investment powers, but determined that addition of such a provision was not required.

6. Super Thursday 12/14/06. The Chair reminded everyone that next month’s Super Thursday will be held on December 14th (not December 21st).

7. Adjournment. The meeting was adjourned at approximately 10:35 a.m.

1. Call to Order. Chairperson Frank Lynch called the meeting to order at approximately 9:05 a.m.