Legal updates for: trusts

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Dirks, Newman, Tippees And The Government’s Cert Petition

by Dorsey & Whitney LLP on

... Government filed its long awaited Petition for a Writ of Certiorari with the Supreme Court in the Newman insider trading case. The Petition presents three key issues which were generally presaged in the request for rehearing en banc: 1) The Second Circuit’s decision is contrary to Dirks, adding an impermissible gloss to the personal benefit... more

Trusts Find Shelter from State Taxes in State Courts

by BakerHostetler on

... two recent cases, taxpayers have successfully challenged state taxation of trust income on the basis that the taxing states had a minimal connection to the trust. In The Kimberly Rice Kaestner 1992 Family Trust v. North Carolina Dept. of Revenue, 2015 WL 1880607 (April 23, 2015), the court ruled that both the North Carolina Constitution and the... more

Premarital planning - Protecting your assets without a prenup

by Adler Pollock & Sheehan P.C. on

... family assets in the event of a divorce is particularly significant for family business owners, who typically want to avoid sharing ownership with their ex-spouses or their children’s ex-spouses. A prenuptial agreement can be an effective tool for overriding marital property rights and keeping assets in the family. This article explores the... more

“DRIVE, He Said[1] ”—But When?? Congress ducks new long term transortation funding bill and adopts a three-month extension of MAP-21 instead “

by Nossaman LLP on

... that that the Congress would pass S. 1647, the Developing a Reliable and Innovative Vision for the Economy Act (DRIVE Act), a six-year, $478 billion transportation funding reauthorization bill before the August recess have, like so many times before, come to naught. Instead we get a three month extension of the current transportation funding... more

The Construction Advantage – Issue 19

by Bernstein Shur on

...Zombie Lien in Washington State: The Lien That Just Won’t Die - In Shelcon Construction Group v. Hammond and Anchor Mutual Savings Bank, decided on May 27, 2015, a Washington State Court of Appeals court determined that a mechanics lien filed by Shelcon Construction took priority of an earlier recorded mortgage of Anchor Bank. ... more

How Nevada SB 306 and Court Rulings Have Changed the Foreclosure Landscape - Counsel's Corner with Jon Patterson

by Bradley Arant Boult Cummings LLP on

... changes were brought about to the HOA foreclosure sale landscape by the passage of SB 306 in Nevada? SB 306 contained a number of important revisions to Nevada’s super-priority lien statute that will provide protection to first lien holders for any HOA lien foreclosure sale noticed for sale after October 1, 2015. Chief among the... more