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Estate Planning Irrevocable Trusts

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the... more +
Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process.  less -

Take It or Leave It: The Perilous Decision of Whether to Violate a No Contest Clause

by Downey Brand LLP on

One of the most dramatic areas of California trust and estate litigation is no contest clauses. No contest clauses bring a made-for-tv excitement to the practice of trust and estate law because of the risk of...more

Removed Corporate Trustee’s Refusal to Turnover Trust Assets to Individual Trustee Was Prudent and Appropriate

by Farrell Fritz, P.C. on

One of the most important considerations in creating a trust is selecting the appropriate trustee. Oftentimes this involves determining whether a corporate trustee is appropriate as either the sole trustee or together with...more

Pa. Supreme Court Upholds Trustee Replacement Rules

by Barley Snyder on

A recent Pennsylvania Supreme Court case clarified the ability of the beneficiaries of a trust to remove a corporate trustee. In a highly anticipated case, the Court unanimously refused to permit the beneficiaries of an...more

Massachusetts Supreme Judicial Court Ruled Irrevocable Income-Only Trusts a Viable Tool in Long-term Care Planning

by Bowditch & Dewey on

In Mary E. Daley v. Secretary of the Executive Office of Health and Human Services and Lionel C. Nadeau v. Director of the Office of Medicaid, which were consolidated in an appeal to the Massachusetts Supreme Judicial Court,...more

Constructive Trusts Can Catch Wayward Trust Assets

by Downey Brand LLP on

Trustees in California trust disputes should not overlook the power of the constructive trust remedy as a way to recover errant trust assets. That’s a takeaway from Higgins v. Higgins (2017) __ Cal.App.5th __, an opinion in a...more

To Ensure a Successful Estate Plan, Take a Holistic Approach

by Fox Rothschild LLP on

The Delaware Supreme Court has just handed down a decision that dramatically illustrates the need to take a holistic approach to an estate plan to ensure that what you want to happen to your assets when you die, can and...more

T&E Litigation Newsletter- March 2017

by Goulston & Storrs PC on

This week has brought a much-anticipated decision by the Supreme Judicial Court regarding trust decanting, and the past month also brought the latest chapters in two cases that we reported on previously....more

Quick and Easy Tax Strategies Sometimes Backfire as New Jersey Estate Learns

by Saul Ewing LLP on

From time to time, clients ask whether their estates will save on death taxes if they simply transfer title to their residence to family members while continuing to live in the residence until they die. We advise clients...more

Joint Trusts: A Useful Tool for Some Married Couples

by Ward and Smith, P.A. on

Though not a silver bullet for every situation, in appropriate circumstances, a Joint Revocable Living Trust ("Joint Trust") can provide a married couple with significant benefits and simplify the administration of assets...more

House Held In Trust Lost Marital Asset Status

by Bryan Cave on

In the afterglow of a wedding, the spouses probably don’t immediately start thinking how the bliss they feel may end spectacularly and expensively. Chances are they may even start estate planning, thinking how they can...more

Personal Planning Strategies - December 2016

by Proskauer Rose LLP on

2017 Estate, Gift and GST Tax Update: What This Means for Your Current Will, Revocable Trust and Estate Plan - As we previously reported, the American Taxpayer Relief Act of 2012 (the "Act") made the following permanent:...more

2016 Year-End Estate Planning Advisory

by Katten Muchin Rosenman LLP on

In 2016, we continued to experience a period of relative stability in our federal transfer tax system and have been able to plan without expecting imminent significant changes to the system. Under the American Taxpayer Relief...more

Gift giving made easy - Annual exclusion reduces your taxable estate

How can a person reduce the size of his or her taxable estate? There are many ways to accomplish this objective, including the use of irrevocable trusts and other sophisticated estate planning techniques. But one of the most...more

Wealth Management Update - October 2016

by Proskauer Rose LLP on

October Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The October Section 7520 rate for use with estate planning techniques such as CRTs, CLTs,...more

Spouse’s Trust Interest Shielded from Division in Divorce

by Burns & Levinson LLP on

Hi there, I continue to be amazed by the distinguished group of divorce and probate lawyers I have the privilege to work with at Burns & Levinson. Today’s decision on Pfannenstiehl v. Pfannenstiehl, a case which will...more

Double Down! - Inter-Generational Split Dollar Throws Sand in the Face of the IRS Again

by Gerald Nowotny on

Recently I wrote an article on JD Supra called Split to Be Tied (May 4, 2016) regarding the Tax Court decision in Estate of Morrissette, (Estate of Clara M. Morrissette v. Commissioner, 146 T.C. No. 11 (April 13, 2016)). Once...more

T&E Litigation Newsletter- July 2016 #1

by Goulston & Storrs PC on

Two decisions issued in June will be of interest to probate litigators and estate planning lawyers. The Massachusetts Appeals Court issued a decision in late June with an interesting twist on the burden required to...more

T&E Litigation Newsletter- May 2016

by Goulston & Storrs PC on

In the past month, there were three decisions of note. First, in the case of Caffrey v. U.S. Trust, Case No. 15-P-920, 2016 Mass. App. Unpub. LEXIS 454 (Apr. 27, 2016), the Appeals Court was confronted with the question...more

Choosing Wisely – Selecting a Trustee

by Ward and Smith, P.A. on

Many people use a revocable trust as part of their estate plan because of its probate avoidance and privacy benefits after death. In addition, many people, whether using a will or a revocable trust, want their beneficiary to...more

Family Vacation Home Planning

by Tucker Arensberg, P.C. on

Transferring a family vacation home to the next generation without causing family strife takes serious planning. Even if the ultimate decision is to have the children own the property outright and figure out how to make it...more

Court Affirmed Holding That Trust Owned Real Estate And Was Entitled To Attorney’s Fees

by Winstead PC on

In Courtade v. Estrada, Estrada created an inter vivos irrevocable trust and deeded real estate into the trust. No. 02-14-00295-CV, 2016 Tex. App. LEXIS 3105 (Tex. App.—Fort Worth March 24, 2016, no pet. history). Two days...more

[Webinar] Estate Planning 101: Key Concepts including Top Trends to Know Now - March 16th, 2:00pm EDT

by Dickinson Wright on

“Because there are many issues that you may not think are involved in estate planning, it is recommended that everyone have an estate plan so that a lifetime of wealth and sentimental assets are distributed in the manner you...more

Wealth Transfer Newsletter

by Moore & Van Allen PLLC on

Although the estate and tax planning landscape has undergone substantial change in recent years, we can rest assured that even more change is ahead. We hope that you find this newsletter informative and useful for your...more

Income Tax Cost Basis Planning

by McNees Wallace & Nurick LLC on

Prior to the recent and significant increases in the federal estate tax exemption amount, many clients engaged in planning the purpose of which was to ensure the use of both spouses’ exemption amount through the use of a...more

Wealth Management Update - October 2013

by Proskauer Rose LLP on

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

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