Richard B. Covey is a Senior Counsel with the New York City law firm of Carter, Ledyard & Milburn. Mr. Covey received his B.A. from Harvard College and his J. D. from Columbia University Law School and received an honorary doctor of laws degree from the University of Miami. He has been a frequent speaker at continuing legal education programs and tax institutes on estate planning and trust and estate matters. Mr. Covey has published two books, Marital Deduction and Credit Shelter Dispositions and the Use of Formula Provisions (U.S. Trust 4^th ed. 1997) and Generation-Skipping Transfers in Trust (American Bankers Association, 3^rd ed. 1978) and is the editor and primary author of Practical Drafting® , a quarterly publication on estate planning and drafting wills and trusts. For more than 25 years, Mr. Covey acted as special tax counsel to the Trust Division of the American Bankers Association and served as a director of Equitable Iowa Companies, which was acquired by ING Group in 2000. He is a fellow of the American College of Trust and Estate Counsel.