News & Analysis as of

Wills, Trusts, & Estate Planning General Business

Read Wills, Trusts, & Estate Planning updates, articles, and legal commentary from leading lawyers and law firms:

Chris Lazarini Examines Unconscionability Claims in Arbitration Clause

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini examined a case in which a plaintiff filed a breach of fiduciary duty claim in federal court and opposed defendants' efforts to move the claims to arbitration. The plaintiff claimed...more

The North Carolina Uniform Power of Attorney Act: A Practical Introduction for Real Estate Practitioners

by Ward and Smith, P.A. on

Can we all agree that dealing with a power of attorney in North Carolina has long been, at best, a frustrating experience? Well, help is on the way! On July 20, 2017, Governor Cooper signed Senate Bill 569, "An Act to Adopt...more

Chris Lazarini Discusses Arbitration Clause's Application to Non-Signatory

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini discussed a case involving a Plaintiff's suit against a broker-dealer involving his deceased mother's IRA account. Although Plaintiff was a non-signatory to the IRA account...more

The Role Of The White Knight In Turning Around A Distressed Cemetery Or Funeral Home

by Blank Rome LLP on

The laws of most states provide a comprehensive regulatory framework governing cemetery and funeral home operations, cemetery and funeral home trusts relating to preneed contracts and cemetery trusts relating to endowment...more

Citizenship of Aircraft Owner Trustee Establishes Federal Court Diversity Jurisdiction

by Holland & Knight LLP on

The Southern District of New York has confirmed that when the trustee of a non-citizen aircraft trust brings suit in its own name, the citizenship of that trustee may be used to establish diversity jurisdiction in federal...more

Cash Value of Life Insurance Policy Exempt From Garnishment

by Dickinson Wright on

DC Mex Holdings LLC v Affordable Land LLC and Dale Fuller, ___ Mich. App. ___ (July 25, 2017), Case no. 332439 - Michigan’s Court of Appeals recently issued an opinion interpreting a statutory provision exempting insurance...more

IRS Regulations on the Chopping Block

by Charles (Chuck) Rubin on

Tax practitioners have complained for years about the ever-expanding scope and complexity of both the Internal Revenue Code and Treasury Regulations. A possible shrinkage in the Treasury Regulations may soon occur....more

McNees Insights – Estate Planning Newsletter - July 2017

Deducting Miscellaneous Itemized Deductions - You can elect each year to itemize deductions rather than claim the standard deduction. Itemized deductions are those that you claim on Schedule A of Form 1040, Itemized...more

Appellate Court Notes

by Pullman & Comley, LLC on

Supreme Court Advance Release Opinions: SC19577 - Estate of Brooks v. Commissioner of Revenue Services - Husband died in Florida in 2000 and left a large amount of securities in two QTIP trusts for the benefit of his...more

2017 Oklahoma Tax and Fee Legislation

by GableGotwals on

The following are some of the changes in Oklahoma law on state taxation and fees enacted by the Oklahoma Legislature in 2017. Income Tax - Oklahoma Standard Deduction Decoupled from Federal Standard Deduction. For...more

Creating Trust to Ensure a Trust’s Success

One of the biggest missteps of clients is to create a trust without communicating its purpose with the adult beneficiaries. Without guidance from the client/grantor and his or advisors, beneficiaries sometimes become...more

Court Declines To Quash Subpoena Issued To South Carolina Department Of Insurance In Companion Property Case

by Carlton Fields on

We previously reported on this case on January 5, 2016, June 28, 2016, July 20, 2016, and December 14, 2016. The case concerns Companion Property and Casualty Insurance Company’s participation in a fronted insurance program...more

May a vindicated trustee be reimbursed personally from the trust estate even for those defense costs that were covered by his...

by Charles E. Rounds, Jr. on

As to whether the vindicated trustee’s claim against the trust estate for defense counsel’s fees should be offset by payments made to defense counsel by the trustee’s personal liability insurance carrier, at least one court...more

Estate Planning and Prenuptial Agreements: Tax Implications of Alimony

by McNair Law Firm, P.A. on

When contemplating marriage and estate planning, frequently, individuals will enter into prenuptial (premarital) agreements to address their rights and obligations during the marriage and in the event of a divorce or death. A...more

Be Careful With That Power of Attorney!: Arbitration Clauses and Nursing Home Lawsuits

by LeClairRyan on

On May 15, 2017, the Supreme Court of the United States handed down its opinion in Kindred Nursing Centers, L.P. v. Clark. This case addressed the issue of whether an agent acting pursuant to a power of attorney could bind...more

Life insurance planning for the business owner

by Thompson Coburn LLP on

Life insurance is an effective tool that business owners can use to provide liquidity at their passing for both their businesses and their families. Having a properly drafted buy-sell agreement is key to avoiding conflict and...more

You Can’t Pick Your Facts

by Fox Rothschild LLP on

Clients can pick their own attorneys but they cannot pick their own facts. A recent case decided by Master Ayvazian highlights the difficulties that unfortunate facts can present. Creditors have eight months to file a...more

Re-examining purpose clauses and Quistclose trusts

by Dentons on

In CCM Industrial Pte Ltd (in liquidation) v Chan Pui Yee [2016] SGHC 231 (CCM Industrial), the liquidators of CCM Industrial Pte Ltd (the Company) brought a claim for the recovery of certain payments (the Payments) to the...more

Why Care About Business Valuation? Part I

by Farrell Fritz, P.C. on

One word: “taxes.” There are so many transactions in which the tax consequences visited upon a closely-held business and its owners, and, therefore the true economic cost of the transaction, will depend upon the valuation of...more

Commercial Division Rejects Third-Party Claim as Derivative in Trusts’ Suit Concerning Upper West Side Beaux-Arts Building

Asserting a claim on behalf of a trust in the Commercial Division can be risky, as the party asserting the claim must establish that the claimed injury is independent of any injury to the trust, and that they are therefore...more

Court Held That Settlor Had Standing To Assert Extra-Contractual Misrepresentation Claims Regarding Insurance Policies He...

by Winstead PC on

In Lee v. Rogers Agency, Lee purchased three whole-life insurance policies in the 1980s where each had a face value of $1,000,000. No. 06-15-00037, 2017 Tex. App. LEXIS 1069 (Tex. App.—Texarkana February 8, 2017, pet. filed)....more

Paying The Estate Tax

by Farrell Fritz, P.C. on

An Unreasonable Burden? One of the reasons often given in support of the elimination of the estate tax is the economic burden it imposes upon the closely-held business; specifically, the requirement that the 40% federal...more

President Trump’s Tax Plan

by Butler Snow LLP on

In rounding out his first 100 days in office, President Trump released an overview of his proposed tax plan. The one page bullet point plan consists of general taxpayer relief for individuals in the form of a simplified tax...more

How to Avoid Costly Beneficiary Designation Litigation – Helpful Hints for All Benefit Plans

by Foley & Lardner LLP on

When administering an employee benefits plan, it is critically important to provide clear and specific instructions as to how a participant can designate a beneficiary. A recent federal district court opinion in Florida...more

4 Business Cases to Follow in the Supreme Court’s Spring Term

by Bennett Jones LLP on

The Supreme Court of Canada’s spring term begins on April 18. This term has a lot of interesting criminal cases, but only a few that may be interesting to the business community...more

345 Results
|
View per page
Page: of 14
Cybersecurity

Follow Wills, Trusts, & Estate Planning Updates on:

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.