Anyone have a good way to approach RAP?

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SKlei
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Joined: Mon Dec 05, 2011 1:01 pm

Anyone have a good way to approach RAP?

Postby SKlei » Fri Apr 27, 2012 5:14 pm

I have the Wendel Primer and he does it by the create, kill, & count approach, however I'm not really get it. Also, in class my professor did it a different way. She would ask us to find the relevant lives and the validating ones. Just really confusing myself, and the only thing I get at this point is that it has to vest within 21 years in a life of being who was alive & it applies to contingent remainders, exec. interests, and vested remainders subject to open. Any help would be appreciated.

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AreJay711
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Joined: Tue Jul 20, 2010 8:51 pm

Re: Anyone have a good way to approach RAP?

Postby AreJay711 » Fri Apr 27, 2012 5:19 pm

It is just all about what is possible. So you look to what the remainders are waiting on before they vest and see if it has to happen by the end of any life in being plus 21 years at the time the interest is created. I don't think there is any "approach", just work from the end backwards.

Really, to study it, it might just be helpful to remember the circumstances it won't vest within the RAP time frame.




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