Read Wills, Trusts, & Estate Planning updates, articles, and legal commentary from leading lawyers and law firms:
Widow Foreclosure Catch-22
The 2010 Tax Relief Act and your estate plan
Are your estate planning documents protecting your assets?
Same-Sex Marriage Cases in 90 Seconds
Should you Opt-Out of the Voluntary Disclosure Program?
Death and Foreign Asset Disclosure. What you don't know can cost you…a lot
Safeguard Your MVA: Devising a Business Succession Plan that will Preserve your Most Valuable Asset
Planning for Your Social Media Accounts When You Die
Divorce can be costly, especially when it reveals undisclosed foreign assets.
Fein, Such, Kahn, & Shepard: Estate Planning
Estate Planning: Wills, Trusts, & Power of Attorney in Arizona - Putting Family First
Foreign Asset Disclosure Program
The Basics of the Fiscal Cliff Deal & Why the Lack of Sunset Provisions Is Important
On February 1, 2013, the Supreme Court of Canada released its much anticipated decision in Sun Indalex Finance, LLC v. United Steelworkers, a case which pitted the claims of pensioners against those of secured creditors in...more
On February 1, 2013, the Supreme Court of Canada (SCC) released its much-awaited decision in the Indalex case. While the central issue in Indalex was the priority of wind-up deficiencies in defined benefit pension plans...more
This analysis updates a previous memo and incorporates advice we have received from the Federal Reserve Board (“FRB”) and the Federal Deposit Insurance Corporation (“FDIC”) regarding the preparation of living wills for bank...more
The Supreme Court of Canada released its highly anticipated decision in Indalex Limited (Re) this morning. The ruling stemmed from an appeal of an Ontario Court of Appeal decision that had created commercial uncertainty...more
If a substantial portion of a person’s wealth is in one or more IRAs, protecting the assets in those accounts is critical to his or her estate plan. IRAs provide significant benefits, including tax-deferred wealth...more
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
A monthly report for wealth management professionals. In This Issue:
- March Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
- In re Grube...more
On September 13, 2011, the Federal Deposit Insurance Corporation approved a final rule requiring certain financial institutions to prepare a plan for their dismantling in the event of material financial distress or...more
In likely response to earlier cases in various states questioning the creditor protection aspects of an inherited IRA, Fla.Stats. §222.21(2)(c) has been modified to expressly include such IRAs in Florida’s statutory...more
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
As we have previously reported, litigation related to decedents’ estates continues to be generated due to the increase in bankruptcy filings by beneficiaries. A recent Rhode Island Supreme Court case, In Re Edwin H....more
Last March, we discussed the bankruptcy case In re Chilton. That case held that unlike a traditional individual retirement account (IRA), an inherited IRA is not an exempt asset in bankruptcy. Our prior discussion can be...more
Evaluation of creditor risk and the development of a strategy for acquiring creditor protected assets is an essential element of every good estate plan. In an effort to preserve funds for generating retirement income, promote...more
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