In Flexible Trusts and Estates for Uncertain Times, Fifth Edition, Jerry Horn defines estate planning objectives, describes the climate of uncertainty, identifies planning problems, and suggests solutions. The completely update fifth edition confronts a purported lull after a period of unprecedented instability and now covers: The repeal in 2010 of the estate tax and the generation-skipping tax and the reversion of the taxes, the exemptions and the rates to status quo ante The restoration of the estate tax and the generation-skipping tax as of the beginning of 2011 and reduced rates and increased exemptions for the gift tax, the estate tax and the generation-skipping taxthe reversion of the exemptions and rates that were in effect before the advent of EGTRRA For 2011 and 2012 a system of portability of the unused portion of the estate tax exemption of a predeceasing spouse and provided for it to sunset at the end of 2012 The American Taxpayer Relief Act of 2012 which became law on January 2, 2013 Draft estate plans to anticipate and withstand the drastic changes in the law, including the 2010 repeal and 2011 restoration of the estate tax and the generation-skipping tax and the implementation and repeal of a system of carryover basis for income tax purposes In addition to these timely updates, you'll find complete, up-to-date information on a wealth of day-to-day situations including how to: Facilitate increases in income tax bases Rearrange ownership of assets to permit use of exemptions Salvage otherwise-unusable exemptions Choose and change powers, interests and trustees to accommodate different and changing situations Optimize the use of independent and nonindependent trustees Maximize flexibility in selection and succession of trustees Allocate investment duties among trustees and others consistently with the prudent investor rule Understand and create inter vivos QTIP trusts Apportion death costs consistently with tax efficiency and preservation of preferred assets Benefit disabled persons and protect against creditors, and much, much more With more than 155 sample forms (and many alternative variables) and 19 complete documents including wills, revocable trusts, trust and estates law documents, irrevocable trusts, powers of attorney for property management and for health care and beneficiary designations, this one-of-a-kind guide will be an indispensable asset to any trust and estates lawyer.