Business Organization Wills, Trusts, & Estate Planning Administrative Agency

Read Business Organization updates, alerts, news, and legal analysis from leading lawyers and law firms:
News & Analysis as of

May the Trustee’s Personal Debt to the Trust Owed as a Result of a Breach of Trust be Discharged in Bankruptcy?

The U.S. Bankruptcy Code provides that a personal debt is not dischargeable if the debt had been occasioned by the debtor’s defalcation while acting in a fiduciary capacity. Courts of appeals had long disagreed about the...more

PBGC Changes Enforcement Policy Under ERISA Section 4062(e)

No action will be taken against creditworthy companies or small pension plans; no financial guarantees will be required for approximately 92% of applicable employer-plan sponsors. On November 2, the Pension Benefit...more

CRA Provides Update on Audit Priorities and Activities

At the Canadian Tax Foundation’s recent Ontario Tax Conference (October 29-30), the Canada Revenue Agency provided an update on its current audit priorities and activities as part of the conference’s “Tax Administration...more

A Misleading Article in the Wall Street Journal (Weekend Investor) Suggesting that Social Security is a Funded Pension Plan.

Two U.S. Supreme Court cases long ago confirmed that Social Security is an unfunded federal welfare program. One writer at the Wall Street Journal has apparently yet to get the message. ...more

Wealth Management Update - August 2012

In This Issue: - August Interest Rates - Portability Regs. - U.S. v. Johnson, Case No. 2:11-CV-00087, U.S. District Court (May 23, 2012) - New Net Investment Tax Will Afflict Almost All Non-Grantor...more

Act Fast to Capture Benefit of Current Gift Tax Exemption

Bay Area families that have yet to take advantage of the current gift tax exemption are running out of time. As of midnight on December 31, 2012, the $5 million exemption disappears and will be replaced by a $1 million...more

Living Wills: The First Submissions

Last Friday, June 29, 2012, the Federal Deposit Insurance Corporation the "FDIC") and the Federal Reserve Board (the "Board") announced the process for their receipt and review of the first wave of resolution plans to be...more

Some Important Bills To Watch Tomorrow

Tomorrow, the Assembly Judiciary Committee will hear several important bills that passed out of the Senate: - SB 323 (Vargas) - This bill would enact the California Revised Uniform Limited Liability Company Act to...more

Wealth Management Update -- December 2011

IN THIS ISSUE: - December Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - Revenue Procedure 2011-48 (October 14, 2011) - Publication...more

Living Will Requirements Come into Focus

The FDIC Board of Directors has adopted a final rule setting forth the requirements for the “living wills” to be filed by large bank holding compa-nies (“BHCs”) and systemically important nonbank financial companies under...more

SEC Adopts Final Definition of “Family Offices” Exempt From Investment Advisers Act

On June 22, 2011, the Securities and Exchange Commission (SEC) adopted its final rule (the Family Office Rule) under the Investment Advisers Act of 1940 (the Advisers Act) defining the term “family office” for purposes of the...more

SEC Adopts Rule Defining “Family Office”

The Securities and Exchange Commission (the “SEC”) recently adopted a final rule (the “Rule”) defining “family offices” that are to be excluded from the definition of an investment adviser and corresponding registration...more

Designation of Systemically Important Financial Institutions, Living Wills and Enhanced Prudential Regulation One Year Later: A...

Congress passed the Dodd-Frank Act one year ago to reduce or eliminate the risks that led to the financial crisis. Today, there is growing concern that the laser-like focus on risk reduction was not properly balanced by an...more

Dodd-Frank Rulemaking Update: Resolution Plans/Living Wills

The July 6, 2011 Federal Deposit Insurance Corporation Board of Directors (the “FDIC Board”) meeting marked the changing of the guard from Chairman Sheila Bair to FDIC Vice Chairman Martin Gruenberg. Chairman Bair’s...more

Social Security Legally Is Just a Government Welfare Program

It all comes down to political risk versus market risk. Social security legally is merely a government welfare program masquerading as a quasi-private funded defined benefit pension plan. Social security bestows no legally...more

Living With 'Living Wills'

The Dodd-Frank Act (the "Act") contains several provisions creating significant compliance challenges for covered financial institutions. Some of the measures will impose novel responsibilities. Some may change the way firms...more

What Do Your Twitter Stats Really Mean?

To anyone on Twitter, raise your hand if you don’t pay attention to your number of followers. No matter how not vain you claim to be, your follower number is something that tugs oh-so-gently at your consciousness. To those...more

Are Your Charitable Trusts Supporting Organizations? Should They Be? A Trust Officer's Road Map to Type III Supporting...

What has changed? Why should bank trust departments be concerned? It has been more than three years since the Pension Protection Act of 2006 ("PPA") changed the requirements for Type III supporting organization ("Type III...more

18 Results
|
View per page
Page: of 1

Follow Business Organization Updates on: