Wills, Trusts, & Estate Planning Business Torts Tax

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

Insight on Estate Planning - February/March 2014

In This Issue: - The BDIT: A trust with a twist - Thanks, Grandma and Grandpa! 3 estate-planning-friendly strategies to pay for a grandchild’s college education - Power of attorney abuse: What can you do...more

Fiduciary Liability and Offshore Assets

Fiduciaries, like trustees and conservators, may face personal liability for wrongful acts in administering estates. Among the liabilities that a fiduciary may face is to the IRS for wrongful distributions such as those made...more

So, You inherited an unreported offshore account, now what!

There may have been a time when inheriting an unreported offshore financial account was not problematic; but not today. The executor/trustee of the estate of the decedent has fiduciary responsibility to IRS and faces personal...more

Tax Liens, Tenancy By Entireties, And The Federal Claims Statute Combine To Produce Fiduciary Liability

A particular mixture of a federal tax lien, a transfer of tenancy by entireties property during lifetime, and the federal claims statute resulted in personal liability to the executors of the estate of a surviving spouse for...more

Wealth Management Update - November 2012

In This Issue: - November Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - Keller v. United States, 5th Cir., No. 10-41311 (09/25/12) -...more

Advocate's Edge

McGovern & Greene's Advocate's Edge publication provides attorneys and their clients with valuable resource guides that offer information related to litigation issues....more

Fiduciaries Tagged Under Federal Priority Statute

Fiduciaries (trustees, executors, personal representatives) normally are not personally liable for the obligations of the trusts and estates they administer. As mentioned here previously, a major exception to this is the...more

Good News For Beneficiaries And Bad News For Fiduciaries In Regard To Transferee Liability For Estate Tax

In a recent U.S. District Court case, transferee liability statutes were favorably interpreted to avoid transferee liability to trust beneficiaries. However, the fiduciaries were unable to rely on a contribution agreement...more

Why Asset Protection Trusts May Fail

In a recent federal income tax collection case, the trial court discusses the reasons why an asset protection trust failed to protect assets of a taxpayer from a tax levy. The court in Evseroff found that all the assets of an...more

Business Owners – Is Now the Time to Sell?

We are holding a Complimentary Business Succession Seminar on September 29th, 2011 at the Hilton Hotel in Mesa (U.S. 60 and Alma School Road) from 4:00 to 5:30 PM, to help business owners turn their dream of succession into...more

Asset Protection FOR CPAs

One pressing area in which clients are increasingly seeking feedback from their accounting and financial advisory team is Asset Protection. Part of that stewardship is making sure that the growth and savings you are...more

Should I Put My Primary Residence Into A Limited Liability Company?

Multiple member limited liability companies (“LLCs”) can be very useful tools for achieving asset protection . For this reason, individuals sometimes consider transferring their primary residence into an LLC. ...more

Business Owner's Indespensible Guide to Choice of Entity

This article provides the business owner with indespensible guidance on selecting the appropriate business entity....more

13 Results
|
View per page
Page: of 1

Follow Wills, Trusts, & Estate Planning Updates on: