ESTATE TALK
Extension Granted to Sever Marital Trust
The IRS recently granted an extension of time to sever a marital trust into separate trusts, one exempt for generation-skipping transfer (GST) tax purposes, and one nonexempt for GST tax purposes.

MEDI-MINUTES
New Medicare Bill Introduced
Senate Democrats have introduced legislation to overhaul Medicare and add to the program a prescription drug benefit.

NATIONAL NOTES
The Death Tax:  Still Kicking After Repeal
The June 26, 2001 edition of The Estate and Gift Tax Bulletin by Tax Analysts featured an article by John Buckley, a member of the House Ways and Means Committee Democratic staff. The article is titled "Estate and Gift Taxes: What Will Congress Do Next?"

TRUST TALK
Q:  Can I avoid taxes by using trusts?
A: No. Trusts have many uses, and in some cases they can help minimize the effects of taxes. But tax "avoidance" is never a good idea and is generally illegal..