News & Analysis as of

Beneficiaries

Win One for the Fiduciary – The PA Supreme Court Clarifies the Interplay of UTA Provisions

As counsel to fiduciaries across our great Commonwealth, I was beginning to despair that changing one’s trustee was becoming as easy as changing the oil in one’s car. In the seminal case of Trust Under Agreement of Edward...more

Recent case law update: Treatment of Trust Assets — Akers (and others) v. Samba Financial Group (2017)

by Latham & Watkins LLP on

The English Supreme Court has delivered a ruling that provides helpful guidance on the enforceability of trusts in respect of assets located in foreign jurisdictions that do not recognise trusts. The ruling also highlights...more

Advisors Advantage - July 2017

by Ary Rosenbaum on

Creating Content That Will "Click". It will help you in the long run. In the old days, newspaper and television advertising were the way that you could get your message across to potential clients and sources for...more

Forcing the Production of Information in Probate Litigation When You Have Been Disinherited

by Reminger Co., LPA on

Can a disinherited person force the production of information necessary to substantiate the efforts required to pursue a challenge to a Will, beneficiary designation, or Trust? Isolation and manipulation of a loved one by...more

[Webinar] Leveraging to Attain Basis Step-Up; Income Tax Benefits of Losing an FLP Case - July 11th, 12:00pm CT

by Thompson Coburn LLP on

Please join us for a webinar based on Steve Gorin's Second Quarter 2017 newsletter, Gorin's Business Succession Solutions. In this webinar the presenter will discuss that one can use debt to allow property to obtain a...more

T&E Litigation Newsletter- June 2017

by Goulston & Storrs PC on

In Roth v. Newpol et al., 91 Mass. App. Ct. 699 (May 31, 2017), the Appeals Court considered whether a residuary clause in a decedent’s last will and testament disposing of "any monies remaining in [her] estate" encompassed...more

Round Two: Significant Telehealth Expansion Re-Proposed in Bipartisan Senate Bill

by McDermott Will & Emery on

On May 3, 2017, the Creating Opportunities Now for Necessary and Effective Care Technologies for Health Act of 2017 (S. 1016) (CONNECT Act of 2017) was reintroduced by the same six senators who had initially introduced the...more

People Considering a Will Contest Must Move Quickly

by Reminger Co., LPA on

The loss of a loved one is a devastating event, and can be a chaotic and confusing time for those left mourning. The making of phone calls to family and friends, the preparation of funeral arrangements, and the handling of...more

Creating Trust to Ensure a Trust’s Success

by Saul Ewing LLP on

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

What You Can Do To Minimize the Likelihood of Someone Contesting Your Will

by Moskowitz LLP on

In our first two posts in this series, we discussed who has legal standing to challenge a will and what grounds may form the basis of a will contest. In this third and final post on will contests, we will introduce a few...more

Who Can Bring Forth a Challenge

by Moskowitz LLP on

Following Richard Pratt’s death in 2009, Madison Ashton claimed that she had left her profession as a sex worker to become the Australian billionaire’s kept mistress. Pratt had apparently promised the former Penthouse Pet a...more

The Best Housewarming Gift for the Unmarried Couple: An Estate Plan

“Thinking too long about doing something is often the reason it never gets done.” –Everyday Life Lessons - In recent years, a growing number of Americans are deciding to cohabitate instead of getting married or...more

On Its Own Motion

by Farrell Fritz, P.C. on

While most decisions rendered by the Surrogate’s Court result from an affirmative request for relief, occasionally the court will address an issue on its own motion when justice or the exercise of its inherent or statutory...more

Estate planning during divorce: It’s never too early to start

by Thompson Coburn LLP on

Estate plans prepared for married couples will vary in complexity and detail but generally follow the same theme: The revocable trust or will typically provides that upon the death of the first spouse, the surviving spouse...more

Ohio Court of Appeals Affirms Statutory Protections for Trustees

by Reminger Co., LPA on

Ten years after the first enactment of the Ohio Trust Code, in Zook, et al. v. JP Morgan Chase Bank National Association, et al., 10th Dist. No. 15AP-751, 2017-Ohio-838, the Tenth District Ohio Court of Appeals gave insight...more

How Does Remarriage Impact Wills and Inheritances?

Divorce and remarriage are common in the United States, and most legal professionals place these issues squarely within the family law realm. However, people who remarry should also carefully revisit their estate plan...more

Case Law Precedent for an Award of Attorney Fees in Excess of Compensatory Damages for a Trustee’s Failure to Account

by Reminger Co., LPA on

Following up on the recent blog post on basic principles of trust reporting, the Fifth District Court of Appeals released a timely analysis involving a trustee’s failure to account and an award of attorney fees against the...more

Florida Eliminates the Benefit-of-the-Beneficiary Rule

by Charles (Chuck) Rubin on

Historically, the settlor’s intent is the key item in guiding the administration of a trust. Further, a settlor has a pretty free hand in crafting how a trust will operate, subject to some public policy limitations and legal...more

Pet Trusts

by McNair Law Firm, P.A. on

Most people remember the late Leona Helmsley as the convicted tax felon famous for uttering the words “only little people pay taxes”, but she is also remembered for having a will that left a $12 million trust fund for her...more

The Duty of Impartiality and Other Trustee Troubles

by Moskowitz LLP on

Trustees are accountable to both the current income beneficiaries and the remaindermen of a trust, and are often placed in the unenviable position of have to balance the interests of the two. A beneficiary may look forward to...more

Why You Should Create A Will: What's Stopping You?

Having a will is imperative to ensure that your money and belongings are distributed according to your wishes after your death. Wills can distribute property, name an executor and guardians for children, forgive debts and...more

Trust Decanting Disputes

by LeClairRyan on

As trust decanting becomes increasingly popular, we can expect to see more disputes and litigation regarding trust decanting. This blog post examines some of the main issues that will likely arise in those disputes....more

A Guide To: Challenging Beneficiary Designations in Michigan

by Clark Hill PLC on

Most individuals own assets that will pass upon the death of that individual pursuant to a beneficiary designation. In fact, in many instances, these types of assets make up a large portion of an individual's net worth....more

Basis In Inherited Property

A beneficiary of an estate will often receive property other than cash as a part of an inheritance. It is common for the beneficiary to be unfamiliar with the circumstances under which the decedent obtained the property or...more

Florida’s Fiduciary Lawyer-Client Privilege is on the Books, But is it Good Law?

In 2011, Florida’s legislature enacted section 90.5021, Fla. Stat., which provides for application of the lawyer-client privilege – even when the client is a fiduciary....more

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