August 2018 - Vol. 54, No. 8

SARs and PEPs

The news is full of intrigue, innuendo, and perhaps even a few facts associated with certain financial transactions connected to a number of “politically exposed people” or “PEPs.” A PEP is an individual who, because of his or her prominent public functions or position, may present a higher risk for potential involvement in corruption, abuse of influence, or bribery because of the position he or she holds.

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OBIT Power: The One Clause You Need (or Need to Add) in Every Irrevocable Trust

The mindset of estate planners has long been to vigorously guard against any estate tax inclusion. In 2013, Congress’s decision to make the $5 million federal estate tax exemption both permanent and portable between spouses rendered such purpose largely moot for all but a tiny percentage of Americans. Moreover, the federal estate tax exemption for 2018 through 2025 has doubled again, to $11,180,000 per person, or $22,360,000 per married couple, indexed for inflation, so that the percentage of Americans exposed to federal estate tax is minuscule indeed.

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Borrowed Judges: Visitors in the U.S. Courts of Appeals

By Stephen L. Wasby | Quid Pro Books | $34.99 | 299 pages | 2018

Reviewed by Andrée Sophia Blumstein

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John C. Brown of Tennessee: Revel, Redeemer, and Railroader

By Sam D. Elliott | The University of Tennessee Press | $43 | 2017

Reviewed by Daniel J. Taylor

This book was honored with the 2017 Tennessee History Book Award by the Tennessee Library Association.

Today, few probably know the name of John Calvin Brown of Pulaski, Tennessee. Attorneys who have studied Tennessee Constitutional law might be familiar with his role as president of the important Tennessee Constitutional Convention of 1870. Others may recollect that he served as a post-Civil War Governor of Tennessee from 1871 to 1875.

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