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61 Fla. B.J. 1 (1987)

handle is hein.barjournals/florbarj0061 and id is 1 raw text is: I THE FLORIDA VOLUME LXI, NO. 1 JANUARY 1987 BAR JOUINAL Editorial Staff Publisher John F. Harkness, Jr. Editor Linda H. Yates Senior Associate Editor Cheryle M. Dodd Associate Editor Judson H. Orrick Advertising director Patricia L. Fife Circulation Director Gail Grimes Staff Assistan Mary Ann Mayo Administrative Secretary Ellen Hendrix Art Production Judith Nable Communications Director Paul F. Hill Graphics Consultant David B. McMurtrey Officers of The Florida Bar President Joe Reiter, West Palm Beach President-elect Ray Ferrero, Jr. Ft. Lauderdale Executive Director John F. Harkness, Jr. Tallahassee Editorial Board Chairman fRichard R. Roach, Jr., Lakeland; Vice Chairmen May L. Cair North Miami; William N Drake, Jr, St. Petersburg; William R Amnong, Ft. Lauderdale Everett P Anderson, Tallaw --O-1pfr Tampa: Dean nunch, Tallahassee: Beach; Susan G. Chopin, Palm V.iami; Philip Michael Cullen il, Ft. Lauderdale Judge J. Allison DeFoor 11, Plantation key; Joseph A. Euslace, Jr. Tampa: Robert W. G. Evans, Tallahassee; Jerry W. Garde, Panama City;, Ira Richard Gershon; St. Petersburg; RobertE.Gordon, LakeWorth; CynthialL Greene Miami Gall L. Hagel, Miami; Randall W. Hanna Tallahassee Tanr H Ht, Tallahassee; MarlyneW, Kaplai, Hollywood;MarshallB.lXspp, Dayton; Hal K. Litchford Orlando; John P. McAdams, Tampa; George C.J. Moore, West Palm Beach; Susan P. Motley, Ft. Lauderdale; Marsha G. Rydberg, Tampa; Barrett Sanders, Miami; PaulL San Giovanni, Orlanido; Judge Steven G. Shutter, Ft. Lauderdale; William E. Sizemore, Tampa; Manuel Socias, Orlando; Courtney W. Stanton,Jacksonville; Patric M. Verrone, Ft. Myers; Ex Officio Joe Reiter, West Palm. Beach; Ray Ferrero, Jr.; t. Lauderdale; Board Liaison Robert E Pyle, Lake Alfred. The Board of Governors First Circuit William H. Clark; Second Circuit Thomas M. Ervin, Jr StevenJ Uhifelder ;Third Circuit ThomasW Brown Fourth Circuit Edward A White, Rutledge R. Liles' Filth Circuit Robert E. Austin; Jr.; Sixth Circuit James A Baxter Kenneth C. Deacon. Jr: Seventh Circuit Horace Smith, Jr.: Eighth Circuit RobertO0 StriplaigiJr. Ninth Circuit Darryl M. Bloodworth, ChandlerR Muller Tenth Circuit Robert E Pyle Eleventh Circuit Patricia A. Seitz, Theodore. Klein, A. J. Barranco, Jr., Stephen N. Zack; Michael Nachwalter. Alan T. Dimond; Twelfth Circuit George A. Dietz,. John R.. Blue; Thirteenth Circuit BenH HilIII GaryR.Trombley; Fo .urteenth. Circuit Lea.W Burke Fifteenth ircuit D Culver Smith II, ArthurG. Wroble; SixteenthCircuiltJoeP Miklaa; Seventeenth Circuit James Fox Miller, Roger H. Staley, Harry G. Carratt; Eighteenth Circuit Eiting L Storms Nineteenth Circuit Ben U Bryan, Jr.; Twentieth Circuit John A. Noland; Out-of- State Edwin Marger, Tom Benham, President YLS Orman L Kimbrough; President-elect YLS Bette E Quiet. Published honthly except July/August is combined issue by The Florida Bar, 600 Apalachee Parkway, Tallahassee 32301 - 8226. Second class postage paid at the Post Officelin Tallahassee, Florida 32301-8226 and at additional mailing offices. The Florida Bar Journal (ISSN OD15-3915). Subscriptions: Florida Bar members receive the Journal as part of their annual dues payment. Nonmember subscriptions are $25 a year S15 for law students, Single magazincdopics 12 months old or less, $2; older than 12 months, $5 September ditectory. issue $20 ($10 to Bar members). Single copy, sales subject to 5% Florida sales tax. Advertising copy is carefully reviewed but publication herein doesnotnecessarilyimplyendorsementofantyprodectorservice offered. Advertising rate card will be furnished upon request. Vi.ws and conclusiosaexpresed io aticle herein gire those.of the authors, and not necessarily those of the editorial staff, officials or Board of Governors of The Florida Bar, a 1987 TheFloridaBarPostinaster: Send addresschangestoThe Florida Bar Journal, Tallahassee, Florida 32301 8226. EDITORIAL OFFICES: TALLAHASSEE, FLORIDA 32301 * TELEPHONE 904/222-5286 REPORTS 4 President's Page Joe Reiter 8 Executive Directions John F. Harkness, Jr. 41 Letters FEATURES 11 Tax Reform-Simple? Fair? Tax Section Chairman Thomas M. Donahoo introduces this special theme issue on the Tax Reform Act of 1986 13 An Overview of the Tax Reform Act of 1986 SamuelC. Ullman gives some ofthe background and implications ofthe new law that shifts the tax burden among the various segments of the economy ... removes six million Americansfrom the tax roles and increases the burden on the middle class 19 1986 Tax Reform-How It Will Impact the Typical Florida Lawyer Edward Heilbronner and Seth Stopek analyze how Floridalawyers will have to adapt their own tax planning 25 Investing in Real Estate: Back to the Basics Charles H. Egerton, Paul M. Naponick and Stephen R. Looney discuss the confusing array ofprovisions that change the rulesfor real estate investors and their advisors LAW NOTES 33 Tax Law Notes by Peter T. Kirkwood The Tax Reform Act of 1986: Provisions Affecting Individual Taxpayers 37 General Practice by Melvyn B. Frumkes and Leslie J. Barnett The Tax Reform Act of 1986: Its Impact Upon Divorce and Separation 43 Labor Law by Clement L. Hyland and Laura A. Quigley Determination of Employee Status Right to Control Economic Reality-Is There a Difference? 47 Real Property, Probate & Trust Law by Stewart A. Marshall and Richard T. Hurt T.R.A. 1986: Effect on Income Shifts, Trusts, Estates and Gifts 51 Family Law by Lewis Kapner Are Discretionary Family Trusts Subject to Equitable Distribution? 55 Corporation, Banking & Business Law by Scott L. Baena Emerging Theories of Lender Liability 57 Criminal Law by Anthony J. Russo The Scope of Judicial Discretion in the Sentencing Process Under the Guidelines 61 Trial Lawyers' Forum by G. Donovan Conwell, Jr. The Admissibility of Evidence Produced by Computer 64 Economics for Lawyers by Betty Coyle Layberger Career Options in Your Long-Range Plan COVER Photography by David B. McMurtrey THE FLORIDA BAR JOURNAL/JANUARY 1987