Civil Remedies Wills, Trusts, & Estate Planning Tax

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The constructive general inter vivos power of appointment: A trap for the unwary trustee and his counsel

The constructive general inter vivos power of appointment is the product of the marriage of power of appointment doctrine and creditors’ rights doctrine. It is a topic that is taken up in §4.1.3 of Loring and Rounds: A...more

Discerning the true settlor of a trust

The person designated in the terms of a trust as its settlor (creator) may not necessarily be its true settlor (creator). Appearances are often deceiving in the world of the trust. Charles E. Rounds, Jr. explains in §8.43 of...more

A valid Massachusetts testamentary trust may now arise under a will that was not fully executed (signed by the will witnesses)...

Massachusetts has broken new ground in allowing a will to be fully executed (signed by the will witnesses) after the death of the testator, with no time period specified. In the upcoming 2014 edition of Loring and Rounds: A...more

Fifth Circuit Rules that Inherited IRAs Are Exempt under Code

Originally posted in the ABI Journal, Vol. XXXI, No. 5, June 2012. Editor’s Note: For additional perspective on inherited IRAs, read the May 2011 cover article and a letter to the editor published in the July/August 2011...more

Wealth Management Update - May 2012

A monthly report for wealth management professionals. In This Issue: - May Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts...1 - Wandry v....more

High Net Worth Family Tax Report - April 2012, Vol. 7 No. 1

In This Issue: - $5,120,000 Lifetime Gift Tax Exemption Expiring Soon We recently circulated this article as a Special Client Alert. The resetting of the lifetime gift-tax exemption back to $1 million from...more

McNees Insights -- Spring 2012

In This Issue: Have You Checked Your Beneficiary Designations Recently?; Tax-Advantage Charitable Giving; and Planning and Paying for Long-term Care (Part 4 in a series: Medicaid/Medical Assistance). Excerpt from...more

An Executor's Job Is Not All Fun And Fees

A recent District Court case reminds co-executors that if they do not do their job right, they can incur personal liability for the income taxes of the decedent whose state they are administering. In the case, the decedent...more

A Lesson in Trust Law, or, What Happens When a Guy Makes His Girlfriend His Daughter to Avoid Paying the Parents of the Guy He...

Most days, this blog is all about analyzing entertainment news stories.  Today, it’s just about analyzing an entertaining news story. Forty-eight year old Florida billionaire John Goodman (owner of the...more

Wealth Management Update - July 2011

In This Issue: - July Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - Malpractice claim against an estate was too uncertain to be deductible as...more

Court Has No Mercy For Botched Estate Tax Payment Extension

In a recent appellate case, the 9th Circuit Court of Appeals upheld the trial court in applying failure to pay penalties for late estate taxes, even though a request for extension of payment could be inferred from an...more

Wealth Management Update -- January 2012

IN THIS ISSUE: - IRS issues Revenue Ruling 2011-28 - January Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - IRS Issues Proposed...more

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