Focuses on general lifetime estate planning and estate planning at death based on the study of the relevant federal wealth transfer and income tax rules.
Prerequisite: Trusts and Estates
Studies the rules governing federal taxation of corporations and their shareholders. Covers tax consequences to corporations and shareholders of corporate formations, distributions, redemptions, and liquidations.
Prerequisite: Introduction to Taxation
Studies the rules governing the federal taxation of pass-through business entities, including partnerships, LLCs, LLPs, etc. Topics include tax consequences of the formation of pass-through entities, allocation of tax items to partners and members, distributions by pass-through entities, and sales of interests in these entities.
Surveys federal income tax law, especially as it relates to taxation of individuals.
Examines state and local tax issues with emphasis on New York tax issues.
Focuses on laws of interstate succession; execution, revocation, probate, and construction of wills; non-probate transfers; nature and creation of express, resulting and constructive trusts; powers of appointment; and fiduciary administration.
Introduces the field and discipline of financial accounting. This course seeks to acquaint the non-financial student with the general purposes of accounting and the role of independent accountants in business and society. Intended for lawyers who have a non-financial background, the student will be introduced to the mechanics and terminology of financial accounting and will learn the basic principles and procedures of accountancy in the preparation of financial statements. With this foundation, the student will learn the purpose behind each of the individual financial statements and how to analyze and interpret the financial statements.
Introduction to rights and obligations of financially distressed debtors and their creditors. Analyzes the Federal Bankruptcy Code and the Code's impact on general non-bankruptcy law.
Presents exercises in solving typical problems in the formation and operation of closely-owned small businesses, including business and financial considerations, and application of state and federal tax, partnership and corporation laws to such organizations. Business organizations and Introduction to Taxation are recommended, but not required prerequisites.
Studies problems in cases having contact with two or more states or nations. Course has three basic components: jurisdiction, choice of law, and recognition and enforcement of sister-state and foreign judgments.
Drafting and planning techniques of general application (for both married and unmarried persons and for persons of moderate and little wealth) are emphasized throughout. The course also covers important lifetime directives, including durable powers of attorney for property, health care proxies and living wills. In lieu of an examination, Estate Planning II involves a project. Students form teams of 2 and 3 (although you can work alone should you so choose) and prepare a will and trust for a hypothetical married person, taking into account all relevant tax and non-tax factors. The team or individual can select New York or any other state law in doing the project. The project is designed to give you an experience transferable to actual practice.
Estate Planning I is a prerequisite for Estate Planning II.
Dozens of field placement opportunities exist for second- third-year students. They spend a minimum of 10 hours per week at their field placement site and participate in a one-hour weekly seminar.
Note that most field placements need to be topic related and approved by a concentration advisor to count toward a degree.
The number of elderly Americans is
projected to increase significantly over the next few decades. Life expectancy
is still increasing; the economy and job growth are sluggish; millions of
Americans lack adequate health insurance; health care costs are rising at a
rate far higher than the general inflation rate; and the Administration and
state governments are attempting to implement the Affordable Care Act in the
face of budgetary constraints and implacable opposition from certain groups. In view of these factors, issues
involving retirement planning, health care and the elderly will continue to be
important for the foreseeable future, and will offer public and private job
opportunities to our graduates. Accordingly, I think that it would be
beneficial for us to offer a course that will give them a solid introduction to
these topics without excessive duplication of issued already adequately covered
in other courses. The new course will replace the existing Employee Benefits
course which we have offered for many years, though not every year.
The course will cover:
1. Federal pension
law under ERISA and the Internal Revenue Code;
2. Social Security
and Medicare coverage and benefits, including policy and financial issues; and
3. The major
new rules under the Affordable Care Act relating to access to health care, how
health care is provided and financed, patient protections, employer-provided
benefits and quality improvement.
Written under faculty supervision on a relevant aspect of tax law. Must qualify for the Law School's upperclass writing requirement, and may or may not be used to satisfy that requirement.
(Effective June 22, 2015)
80 New Scotland Avenue, Albany, NY 12208-3494
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