Holzman, Donald J.

English

Digital Commons @ University at Buffalo School of Law

Buffalo Law Review Volume 16 Number 3 Article 23 4-1-1967 An Estate Planner's Handbook. By James F. Farr. Donald J. Holzman Follow this and additional works at: https://digitalcommons.law.buffalo.edu/buffalolawreview  Part of the Estates and Trusts Commons Recommended Citation Donald J. Holzman, An Estate Planner's Handbook. By James F. Farr., 16 Buff. L. Rev. 871 (1967). Available at: https://digitalcommons.law.buffalo.edu/buffalolawreview/vol16/iss3/23 This Book Review is brought to you for free and open access by the Law Journals at Digital Commons @ University at Buffalo School of Law. It has been accepted for inclusion in Buffalo Law Review by an authorized editor of Digital Commons @ University at Buffalo School of Law. For more information, please contact lawscholar@buffalo.edu. BOOK REVIEWSAN ESTATE PLANNER'S HANDBOOK. By James F. Farr. Boston and Toronto:Little, Brown & Company, 3d edition, 1966. Pp. xxiv, 663. $15.00.This book presents a very fine statement of the basic principles of estateplanning, including appropriate emphasis on the tax aspects of the subject.It is well-done and useful.The text material represents a substantial updating of the second editionwhich was co-authored by Mr. Farr and the late Mayo Adams Shattuck forpublication in 1953. This was, of course, just prior to the complete revision ofthe taxing statutes resulting in the Internal Revenue Code of 1954, and there-fore, the present edition is much more useful because of its reference to thecurrent statute.In addition, to reflect some of the trends which have developed within thelast thirteen years, Mr. Farr has also expanded, rewritten, and updated thesecond edition chapters dealing with trusts, both revocable and irrevocable, andthe related estate and income tax rules.Approximately one-half of the book is devoted to text material; the otherhalf consists of suggested forms with comments. The work is easy to use, beingwell-indexed and having an outline-type Table of Contents in addition to a fairlyexhaustive bibliography (Table of Authors Cited) and a Table of Cases Cited.The author, a member of the Massachusetts Bar, quite naturally draws heavilyfrom Massachusetts law, but this is not a disadvantage because the book is,nevertheless, amply keyed into the statutes and cases of other jurisdictions andmuch of the material is applicable without regard to the question of jurisdiction.The book is particularly attractive for the manner in which it so usefullycovers its material. It has a very thorough discussion of federal estate and gifttaxes and their interrelationship and explains adequately the various incometax aspects of trusts and estates. It also covers forms of insurance and insurancetrusts, including the characteristics of various insurance options, and devotesconsiderable space to revocable and irrevocable inter vivos trusts, as well astestamentary trusts and certain aspects of trustee accounting. As an example ofcomprehensiveness, discussion of the latter even includes material on the some-what sophisticated subject of utilizing a clause in an inter vivos trust to terminatea trustee's liability forever and to all persons if a full account has been renderedand no objection raised within a reasonable period.The book is not, nor does it claim to be, an exhaustive treatise on any ofthese subjects, and herein lies some of its attractiveness. In other words, one ofits main attributes is its concise, although thorough, presentation of variousareas with good footnoting and outside references. It provides an abundance ofinformation and material useful in estate planning in such form as to make iteasy to find, understand, and use. The novice will find it helpful as a sourceof explanatory and background material. The more experienced will also findits condensed presentations useful for ready reference to the variety of importaritfactors necessary to thorough estate planning.BUFFALO LAW REVIEWThe text material will probably prove more useful than the forms, althoughthe inclusion of the latter and the comments with regard thereto can be ofassistance for thought and development of ideas as practical situations areencountered. In addition to wills and will clauses, the forms and commentsinclude revocable and irrevocable trusts, a stock purchase agreement, and acharitable trust.This book must be highly rated when compared to other publications in thesame area. It deserves attention and use and a place in the library of the practi-tioner and others interested in the subject of estate planning.DoNALD J. HOLZMANMember, New York Bar

An Estate Planner\u27s Handbook. By James F. Farr.

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An Estate Planner\u27s Handbook. By James F. Farr.

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