Read Wills, Trusts, & Estate Planning updates, articles, and legal commentary from leading lawyers and law firms:
The Greatest Gift: Your Individual + Family Estate Plan
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
Divorce can be costly, especially when it reveals undisclosed foreign assets.
Estate Planning: Wills, Trusts, & Power of Attorney in Arizona - Putting Family First
Foreign Asset Disclosure Program
The tale behind a real estate transaction usually follows the same pattern: a potential buyer approaches a seller after viewing the advertised property, negotiations commence and the parties arrive at a meeting of the minds...more
Owners of residential property in Michigan, including cottages, wanting to transfer the property to a relative without uncapping the value for property tax purposes, may be in luck. The Michigan Legislature has adopted a new...more
In This Issue:
- 1031 Exchanges with a Twist
- Firearms in Estate Planning
- Estate Administration 101: What You Need to Know to Effectively Administer an Estate Qualifying as Executor
- Excerpt from 1030...more
Effective December 31, 2013, a parent can transfer residential real estate located in Michigan to his or her child without uncapping the taxable value of the property if the child continues to use the property for residential...more
Now that the recession appears to be fading into memory, Section 1031 Exchanges are on the rise. Section 1031 of the Federal Tax Code allows property owners to defer taxes by exchanging the sale property into one or more...more
The Pennsylvania Supreme Court reversed the Commonwealth Court and held that property owned by the Board of City Trusts acting as trustee under the will of Stephen H. Girard was immune from real estate taxation because the...more
In this Issue:
- Limited Liability Companies — The Best of All Worlds?
- Employees Are Responsible for Beneficiary Designations
- Protect Your Plastic
- HOA Can Regulate Common Area
A taxpayer challenged a county assessor’s reassessment of real property after the taxpayer transferred his joint tenancy interest to himself as a tenant in common. A court of appeal held that the property was subject to...more
I have written about elder financial abuse, and I will keep writing about it until stops.
It is unfathomable to me that schemes to defraud the elderly are so pervasive. These seniors are attractive targets for financial...more
On September 30, the U.S. District Court for the District of Columbia held that a HUD regulation defining conditions under which it would insure a reverse mortgage agreement, which would have made it easier for lenders to...more
I. Perpetual Calendar—Make Sure You Have Time for Reasoned Decisions—Stop trying to remember so much, reduce your stress, and avoid the risk of missing an important date. Every item that you can record onto a perpetual...more
For 15 years, my Dad has been building and rebuilding his home. Awake every day at 4 am, he sits in his garage, listens to the radio, drinks his coffee, and sets the day’s agenda. By 6 am, my Dad is busy hammering, sawing,...more
At the end of the 20th century, real estate values were growing at phenomenal rates with no end in sight. By the end of 1999, the S&P 500 featured an astounding five-year average annual return of 28.56%. For the 2000...more
Florida law prohibits the devise of a homestead if the owner is survived by a minor child or children. For purposes of this prohibition, the term “devise” extends to both gifts under a will and transfers by way of a revocable...more
Real estate investment trusts (REITs) have long been a tax-efficient vehicle for foreign persons seeking to invest in U.S. real estate. Now, two legislative proposals titled the Real Estate Investment and Jobs Act of 20131...more
Earlier this summer, Florida’s land trust statute underwent a substantial revision. Below are the major highlights:
1. Florida has separated out the title aspects of land trusts from the other provisions. This is...more
The Virginia legislature recently passed the Uniform Real Property Transfer on Death Act. The Uniform Real Property Transfer on Death Act allows real property to be treated in a similar fashion as bank accounts, stock...more
Estate fiduciaries, whether serving as executor and administrator, often face a great deal of uncertainty in exercising their duties. While certain types of personal property are fairly easy to manage while the estate is...more
Trusts can be a good choice for real estate ownership. Delaware, Connecticut and states that have adopted the Uniform Statutory Trust Entity Act allow “statutory trusts” and some “business trusts” to own real estate in their...more
Here is an estate planning note that will help those who are using living trusts — consider using a transfer on death deed.
Kudos to the Virginia General Assembly for recently enacting legislation allowing for the...more
Deed/Acknowledgment Trumps Parties Clause/Intent of Grantor: Owner, an individual, transferred property.....
POA/Conveyance by Agent to Self/Will/Executor vs. Agent/Bank of America/Encumbrancer for Value/Deed Set Aside:...more
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
In This Issue:
- When You Thought It Was Safe to Go Back in the Water - Estate Tax Revisions
- Basic Information About Durable Powers of Attorney
- Uniform Real Property Transfer on Death Act
- Per Stirpes Means...more
SB Liberty, LLC v. Isla Verde Association, Inc. -
Court of Appeal, Fourth Appellate District, Division One (May 22, 2013) -
In 2006, Gregg and Janet Short purchased a home in the Isla Verde residential community...more
In today’s world, fewer marriages exist and more people are cohabitating in committed relationships for various reasons.
Arizona’s community property laws do not apply to the ownership of real property between...more