This article addresses how easily gift planning options and ideas can be included in a marketing plan and then into each conversation with likely prospects, not just the super wealthy you've already identified. The misguided belief that you need to be technically proficient before you bring up planned giving is squashed; not a concern so long as you have experts in the wings to call in for the relatively few complex arrangements you may be lucky enough to experience. Lots of donor stories highlighting conversations that introduce gift planning concepts are included.

In Notice 2016-59, IRS announced a change to its policy on assessing user fees for private letter ruling requests where multiple parties to the same transaction are seeking "substantially identical" determinations.

In Rev. Proc. 2016-49, IRS has provided a mechanism for making a QTIP election in a decedent's estate for the purpose of increasing the amount of unused exemption available to a surviving spouse. Rev. Proc. 2001-38, treating as void a QTIP election which was not actually necessary to reduce a decedent's estate tax to zero, is superseded.

In Estate of Heller v. Commissioner, the Tax Court ruled a decedent's estate could claim a theft loss deduction under Section 2054 where the value of its interest in a limited liability company dropped to zero when its investment in what turned out to be a Ponzi scheme became worthless.