Individual Tax Courses

This course picks up the estate planning course (TX 935) leaves off. We will survey several "cutting edge" estate planning techniques-techniques that permit the transfer of large amounts of wealth at little or no gift tax or estate tax cost. We will zero in on valuation rules that apply to the estate tax and gift tax; we will discuss what to look for in appraisals; we will examine, in depth, the current status of planning involving family partnerships and LLCs; we will examine the rules that apply to GRATs, installment sales to "defective" grantor trusts, and how to structure transfers using these techniques; we will review the biases built into the actuarial valuation rules that the Internal Revenue Service requires us to apply; we will examine the effects of the UPC, the Uniform Trust Code, and will consider "decanting"; we will discuss some of the psychological aspects of estate planning including issues presented by parents' fears of making their children too wealthy too soon; and we will discuss trust design and the choice of trustees. There is no final exam but students will be required to write a 10 -- 15 page term paper. In addition there will be several quizzes throughout the semester. Prerequisite: Estate Planning and Estate and Gift Tax Recommended: Taxation of Trusts and Fiduciaries

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SPRG 2026: LAW TX 934 A1, Jan 12th to Apr 22nd 2026
SPRG 2026: LAW TX 934 OL, Jan 12th to Apr 22nd 2026

This course provides an introduction to the regulation of retirement plans covered under the Employee Retirement Income Security Act of 1974 ("ERISA"), a federal law that transformed the legal landscape of private-sector retirement plans. Specifically, the course will cover public policy implications of offering and regulating retirement plans including tax policy concerning incentives for employers to offer retirement plans and for employees to defer income to these plans, the different types of retirement plans subject to regulation under ERISA with a focus on defined contribution plans such as cash or deferred arrangements (401(k) plans) under the Internal Revenue Code, how plans qualify for preferential tax treatment under the Code, federal preemption of ERISA-governed benefit plans, ERISA's fiduciary duties and prohibited transaction rules, and civil enforcement in the courts as well as by the Internal Revenue Service and the Department of Labor. The course will be relevant for any student interested in employee benefits, tax law, employment law, labor law, business law, or securities law.

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FALL 2025: LAW TX 905 OL, Sep 2nd to Dec 19th 2025

Principle issues of estate and gift taxation. Topics include the definition of taxable gifts and exclusions and deductions; determination of the taxable estate of a decedent including problems with lifetime transfers; valuation issues; deductions from the taxable estate with special emphasis on property passing to a spouse; and transfers with retained interests. Reference is made throughout to planning issues relating to estate and gift taxation and is designed to give both a requisite background for those intending additional study of estate planning and a comfortable familiarity with the subject for those going on to other tax fields.

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FALL 2025: LAW TX 904 A1, Sep 2nd to Dec 19th 2025
FALL 2025: LAW TX 904 OL, Sep 2nd to Dec 19th 2025

This course will examine in depth the theoretical and practical aspects of a variety of estate planning strategies currently being used in the real world. The primary focus of the course will be on federal income, estate, gift, and generation skipping transfer tax issues which arise in the estate planning context, although other planning issues, including professional ethics, will also be considered. The course will use case studies of specific tax driven planning strategies, including grantor trusts, marital deduction trusts, post- mortem planning, and planning for incapacity. Prerequisite or corequisite: Federal Income Taxation I and Estate and Gift Tax

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FALL 2025: LAW TX 935 A1, Sep 2nd to Dec 19th 2025
FALL 2025: LAW TX 935 OL, Sep 2nd to Dec 19th 2025

Study of the tax and ERISA aspects of various forms of executive compensation. Topics include traditional fringe benefits and deferred compensation arrangements, incentive and non-qualified stock option and restricted stock plans, stock appreciation rights, excess benefit arrangements, rabbi trusts, golden parachute agreements, split-dollar insurance arrangements, and special issues for tax-exempt organizations.

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Charitable gift planning has long been a crucial component in wealth management and estate planning. It remains an important factor in the "tool box" of estate and tax professionals. While humanitarian commitments remain the primary motivating force behind private philanthropy, the tax benefits associated with charitable strategies and techniques have assumed greater importance as our system of taxation has grown increasingly complex. This course will examine the federal tax implications (income tax, gift tax, estate and generation skipping transfer tax, and capital gains tax) of key strategies associated with charitable gift planning for incorporation into the overall estate plan. Topics covered will include types of charitable entities, requirements of a charitable gift, charitable alternatives (private foundations, donor advised funds and supporting organizations), split interest transfers (charitable remainder and lead trusts), bargain sales, gifts of complex assets, and testamentary transfers. Case studies will be used to illustrate optimal intervivos and testamentary planning for creating flexibility while avoiding pitfalls. None. Recommended: Federal Income Taxation I, Federal Income Taxation II and Estate and Gift Taxation.

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Federal income tax considerations have major implications for planning in the corporate area. This course focuses on income tax issues in transactions between corporations and shareholders, including distributions, exchanges, reorganizations and capital contributions. PREREQUISITE: Introduction to Federal Income Taxation.

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SPRG 2026: LAW JD 887 A1, Jan 12th to Apr 22nd 2026

Income tax consequences arising upon the death of a decedent and special income tax treatments of estates, trusts, and fiduciaries. Topics include determination of gross income and allocation between the decedent and the estate or trust; special problems with income in respect of a decedent; separate and conduit taxation of estates and trusts; allocation of tax attributes between an estate or trust and its beneficiaries; grantor trust rules, and other topics. Prerequisite: Federal Income Taxation I.

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SPRG 2026: LAW TX 937 A1, Jan 12th to Apr 22nd 2026
SPRG 2026: LAW TX 937 OL, Jan 12th to Apr 22nd 2026