News & Analysis as of

Estate Planning for Digital Assets

Traditionally, estate planning provides for the transfer of your assets through a will or a trust. These documents name an executor or trustee, respectively, to handle your affairs after your death, including the transfer of...more

Requesting, Obtaining and Reporting the Personal Information of the Beneficiaries of a Trust

With another tax season recently behind us, the Internal Revenue Code and its many reporting requirements are fresh in our minds. Do you encounter beneficiaries who want to know why you need so much of their personal...more

Wills, Trusts and Estates Newsletter - May 2014

In This Issue: - A Contrarian View on Bypass Trusts - Getting More Out of Trusts: The Total Return Unitrust - Estate Planning for Your Eighteen Year Old: What You Need to Do Now May Surprise You -...more

Important Changes Proposed to New York Estate Tax and New York Income Taxation of Trusts, Grantors and Beneficiaries

Important legislation has been introduced by New York Governor Andrew Cuomo that, if passed, would substantially change the New York estate tax regime and would also significantly change the income tax rules regarding certain...more

5 Estate Planning Mistakes You Should Try to Avoid

In your experience, what’s the most costly mistake people make when preparing estate plans, and what can they do to fix them? That’s the question we recently put to attorneys writing on JD Supra....more

Motion to Strike Under Anti-SLAPP Statute Erroneously Granted in Connection With Conversion, Unjust Enrichment and Breach of...

A motion to strike under California’s anti-SLAPP statute was filed in response to a lawsuit initiated by beneficiaries against a trustee and executor of an estate. The United States Court of Appeals for the Ninth Circuit...more

Wealth Management Update - December 2013

The December § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 2.0%, which is unchanged from last month. The December applicable federal rate ("AFR") for use with a sale to a defective...more

What Is a Pooled Trust and How Does It Protect My Family Member?

Because beneficiaries of programs like Supplemental Security Income (SSI) and Medicaid must be quite poor to qualify, they can lose their benefits when they come into an inheritance, receive money in their own names from an...more

Wealth Management Update - November 2013

Federal Exclusion from Gift, Estate and Generation-Skipping Transfer Taxes Increases to $5,340,000 in 2014 - In Revenue Ruling 2013-35, the IRS announced certain inflation adjustments to tax exemptions and deductions....more

Focus - Fall 2013

In this issue: - Creating an Effective Corporate Strategic Venture Capital Program - "Amazing Clients: Victor Del Regno, Producer and Director of "Till Then - A Journey Through WWII Love Letters" -...more

Wealth Management Update - October 2013

The October § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 2.4%. This is up from September's 2.0% rate. The applicable federal rate ("AFR") for use with a sale to a defective...more

Insight on Estate Planning - October/November 2013: Estate Planning Pitfall: A beneficiary designation or joint title overrides...

Inattention to beneficiary designations and jointly held assets can quickly unravel an estate plan. Many don’t realize that their will doesn’t control the disposition of “nonprobate assets,” such as life insurance policies,...more

Insight on Estate Planning - October/November 2013: To preserve your wealth, consider a DAPT

For affluent families with significant liability concerns, foreign asset protection trusts (FAPTs) probably offer the greatest protection against creditors’ claims. But those who prefer to avoid the complexity and expense of...more

Insight on Estate Planning - October/November 2013

In This Issue: - To preserve your wealth, consider a DAPT - Estate planning for same-sex spouses: What the Supreme Court’s DOMA ruling means - Using an FLP or LLC? Beware the step transaction...more

How to Handle Real Property as an Estate Fiduciary

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

Charitable Lead Trusts With Private Foundation Lead Beneficiary

Transfers to charitable lead trusts during lifetime can provide tax benefits to the donor, and can avoid inclusion of the transferred property in the gross estate of the donor for federal estate tax purposes at death....more

Employment Cannot Be Devised [Florida]

Estate planners often have clients that want to include directions in their wills and trusts that don’t directly relate to dispositions of assets....more

IRA Beneficiary Suffers Transferee Estate Tax Liability 12 Years After Form 706 Filed

Notwithstanding failing to assess estate tax against an IRA beneficiary wihin the Code §6901 four year transferee statute of limitations, in U.S. v. Maureen G. Mangiardi et al, the IRS was permitted to collect estate taxes...more

Suit To Modify Trusts Did Not Violate No Contest Clause

Texas courts narrowly construe no-contest clauses. In Di Portanova v. Monroe, grandparents set up eight trusts for a grandchild that had a mental disability. No. 01-20-01019-CV, 2012 Tex. App. LEXIS 9859 (Tex. App.—Houston...more

The Perils of Creating Your Own Estate Plan

Who says trust and estate law isn’t interesting? ...more

Litigating Accounts With Rights of Survivorship in Texas

In this article: - I. Introduction - II. Valid Survivorship Accounts - III. Joint Accounts Between Spouses - IV. Burden Of Proving Enforcable Survivorship Accounts - V. Proving Contents Of...more

Insight on Estate Planning - April/May 2013: Estate Planning Pitfall: You’ve named a minor as beneficiary of your life insurance...

A common estate planning mistake is to designate a minor as beneficiary — or contingent beneficiary — of a life insurance policy or retirement plan. This brief article discusses why it’s better to designate one or more trusts...more

Insight on Estate Planning - April/May 2013: The key to an effective trust is education

A trust is a versatile estate planning tool. But no matter how well it’s designed and drafted, a trust won’t reach its full potential unless all of the stakeholders — grantor, trustee and beneficiaries — understand the...more

Estate Planning Considerations: Documentation and Peace of Mind

With the introduction of the American Taxpayer Relief Act of 2012 (Act), the world of estate planning has been injected with a dose of certainty after more than 10 years of uncertainty as to federal estate, gift and...more

A Common Estate Planning Mistake: Neglecting Beneficiary Designations

We all have hopefully made explicit designations of beneficiaries for our life insurance policies, retirement accounts and even some investment accounts which provide for payment upon death without a court order. It’s...more

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