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Preface
Some Thoughts on the Study of Law
Advanced Legal Research
Civil Procedure and Administrative Law
Clinical Law
Commercial & Real Estate Law
Constitutional Law
Criminal Law and Procedure
Disability Law
Environmental Law
Estates and Trusts Law
Health Care Law
Intellectual Property
International Law
Perspectives Courses
Property
Tax and Business Law
Torts
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ESTATES AND TRUSTS LAW
The study of estates and trusts law is important to every law student, for everybody needs a will, even law students. Most lawyers, at some time during their careers, will advise about the planning of an estate and the drafting of a will. Since there is no such thing as "a simple will," every will and every estate plan needs meticulous care and attention, and must be individualized to each client through careful interviewing, ascertaining the client's peculiar needs and circumstances, and close drafting. The law is sometimes difficult - often arcane - and the usual client is not familiar with it in the same way that most business clients understand the demands of business law. Thus, the estate planning advisor assumes a peculiar and important position of expert. Clients must rely on the absolute accuracy of the legal knowledge and draftsmanship of their lawyer.
The University of Alabama School of Law offers students an opportunity to gain a thorough basic introduction to field in Decedents' Estates and Trusts, a prerequisite for every other course in the field. Other basic courses include Future Interests and Federal Estate and Gift Taxation. More advanced courses help to train those interested in specializing in estate planning.
Fundamental Courses
Decedents' Estates, Trusts, and Fiduciary Administration (Law 644). 3 hours, offered fall & spring semesters. This course provides an introductory study of the law, process, drafting techniques, principles, and concepts employed in intergenerational wealth transfer. The subject matter includes material traditionally taught in courses on wills, intestate succession, trusts, and fiduciary administration. Estate and gift taxation is not covered.
Future Interests, Estates in Land, and Powers of Appointment (Law 646). 3 hours. This course studies the kinds of estates in land and future interests recognized at common law, and statutory changes in the law; the limitations placed upon their creation and transfer; the rules of construction employed in determining the effect of specific language purporting to create such interests; the Rule Against Perpetuities; powers of appointment; and social considerations pertinent to the subject. In short, this course deals with the interpretation of wills and trusts by courts, and the pitfalls presented for the estate planner by the language and ancient learning of the common law of estates and future interests. Prerequisite: Decedents' Estates.
Federal Estate and Gift Taxation (Law 647). 2 or 3 hours. This course is an introduction to the tax aspects of basic estate planning. Topics include federal taxation of inter vivos transfers, revocable and incomplete transfers, exclusions, the unified estate tax credit, and the correlation between income and estate taxation. Also covered are the federal taxation of property owned at death, of jointly held property, of property transferred within three years of death, of life insurance, and of powers of appointment; the marital and charitable deductions; federal estate tax credits, deductions, and exemptions; and valuation problems. Prerequisites: Decedents' Estates; Federal Income Taxation.
A Note About Sequencing
Decedents' Estates is offered each semester. Future Interests and Estate & Gift Taxation are offered only in the spring. Students interested in concentrating in this area should take Decedents' Estates in the fall of the second year. The course in Estate Planning is offered only in the fall, and a student who wants to take it but is unable to take both Future Interests and Estate & Gift Taxation in the spring of the second year should probably take the latter, with permission of the instructor, and take Future Interests in the spring semester of the third year.
Advanced and Specialized Courses
Estate Planning (Law 681). 2 or 3 hours. This course allows the student to apply, at an advanced level, the property law and tax law encountered during the previous courses in the area, and to gain some experience in drafting. Prerequisites: Decedents' Estates; Estate and Gift Taxation. Suggested: Future Interests.
Personal Financial Planning and Elder Law (Law 695). 2 or 3 hours. This course is designed to introduce law students and potential estate planners to investing and estate-building. It begins with such basic concepts as money, debt, budgeting, savings, investment, markets, securities, and credit. It deals with basic kinds of investment, such as auto, housing, bank accounts, stocks and bonds, mutual funds, and futures. It also touches upon consumer protection, credit cards, pensions, social security, IRAs, bankruptcy, and relevant taxation issues (income and estate). Students with a business background will find nothing new and should not elect this course. Prerequisites: Decedents' Estates; Federal Income
Taxation.
Fiduciary Administration (Law 780). 2 hours. This course studies the duties and powers of, and problems frequently encountered by, various fiduciaries, especially including trustees, personal representatives, custodians, guardians, conservators, and those holding powers of attorney. Prerequisite: Decedents' Estates.
Will Drafting Seminar (Law 747). 2 hours. This seminar gives the student problems with and practice in the drafting of wills and will substitutes. Prerequisite: Decedents' Estates. Suggested: Future Interests.
A Note About Sequencing
The Will Drafting Seminar is offered in the fall semester and may be offered in the spring semester. Estate Planning is offered only in the fall semester. Fiduciary Administration has not been offered in recent years.
Interested students may be able to arrange advanced courses or seminars in Problems in Estate Planning. See the instructors in the area.
Closely-Related Courses
ERISA (Law 732) is highly recommended for those planning to specialize in wills and estates law. Conflict of Laws (Law 667) is also highly recommended. Tax Shelters (Law 745) may be pertinent to the interests of some students in this area, and a student should consult the course instructor. Other related courses include Consumer Law (Law 628), Children's Rights (Law 635), Special Problems in Prisoner Rights (Law 757); Marriage Law (Law 756), Debtor and Creditor Rights (Law 668), Family Law I and II (Law 674 & 778), and Insurance (Law 675). Courses that will allow you to apply estates and trusts law to actual live-client situations include the Elderlaw Clinic (Law 665) and the Pension Clinic (Law 665), both of which are described in the Clinical Law section of this Guide.
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