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Estate Planning › Minors

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 -
Holland & Knight LLP

Tennessee Trust Bill Takes Effect and Makes Important Changes to the State's Trust Laws

Holland & Knight LLP on

Tennessee Gov. Bill Lee approved Public Chapter No. 695 on April 11, 2024, as passed by the Tennessee General Assembly (Trust Bill). The new law became effective on July 1, 2024, and it made several important changes to...more

Lippes Mathias LLP

Testamentary Guardianship: Safeguarding Your Child's Future Through Estate Planning

Lippes Mathias LLP on

Guardians are a type of fiduciary appointed for a minor child or individual determined incapacitated by the courts. When appointed by a Last Will and Testament (“Will”), they are commonly known as testamentary guardians....more

Charles E. Rounds, Jr. - Suffolk University...

When the guardian ad litem “representing” the yet-to-come-into-existence beneficiaries of a trust is nonfeasant or malfeasant

Charles E. Rounds, Jr. - Suffolk University... on

Does a court-appointed GAL in a trust matter owe fiduciary duties to the parties to the trust relationship who have yet to come into existence, e.g., the settlor’s future great grandchildren (hereinafter the “non-existent...more

Dunlap Bennett & Ludwig PLLC

The Key Differences Between A Guardianship And A Conservatorship

Dunlap Bennett & Ludwig PLLC on

Guardianship and conservatorship are both legal arrangements in which a court appoints someone to act on behalf of another person who cannot take care of themselves. A person is deemed legally incapacitated when they cannot...more

Holland & Hart LLP

Pitfalls of Naming Minors as Beneficiaries

Holland & Hart LLP on

It is natural for clients to want to name their children or grandchildren to receive their assets after their death However, the naming of a beneficiary directly on an account, especially if they are a minor, can derail an...more

Troutman Pepper

Digital Planning Podcast: Digital Assets in Divorce, Prenuptial and Postnuptial Agreements, Families and Minors

Troutman Pepper on

The Digital Planning Podcast is designed to educate individuals about all things digital in connection with estate planning, business planning and estate administration. Your hosts, Jennifer Zegel, Ross Bruch and Justin...more

Jaburg Wilk

Do I Need an Estate Plan?

Jaburg Wilk on

When You Hear the Term “Estate Planning”, Do You Think: “I don’t need an estate plan because I don’t have very much,” “My wishes are simple, I can just jot down what I need,” “I know someone who said they used a Will...more

Tucker Arensberg, P.C.

PA Inheritance Tax Rate Reduced to 0% for Parent to Child 21 and Under

Tucker Arensberg, P.C. on

On June 28, 2019, the governor approved HB 262, which includes the reduction of the inheritance tax rate to 0% on property transferred from a natural parent, adoptive parent, or step-parent to or for the benefit of a child...more

Tarter Krinsky & Drogin LLP

What You Need To Know About Giving Annual Gifts To Children And Grandchildren

Tarter Krinsky & Drogin LLP on

Many of our clients like to make annual gifts to their children and grandchildren. Such gifts may be subject to a gift tax (to be paid by the donor,) however, federal law offers certain exceptions that can help gift givers...more

Foley & Lardner LLP

Beneficiary Provisions and Designations – Plan Now for More Simplicity Later

Foley & Lardner LLP on

Outside of death, beneficiary provisions and designations under qualified plans (see ERISA Section 3(8)) tend to receive little attention. Unfortunately, death may spotlight or uncover less desirable provisions and...more

Chambliss, Bahner & Stophel, P.C.

10 Reasons to Create an Estate Plan Now

Chambliss, Bahner & Stophel, P.C. on

Many people think that estate plans are for someone else, not them. They may rationalize that they are too young or don't have enough money to reap the tax benefits of a plan. But as the following list makes clear, estate...more

Chambliss, Bahner & Stophel, P.C.

Estate Planning and Retirement Considerations for Late-in-Life Parents

Chambliss, Bahner & Stophel, P.C. on

Older parents are becoming more common, driven in part by changing cultural mores and advances in infertility treatment. Comedian and author Steve Martin had his first child at age 67. Singer Billy Joel just welcomed his...more

Holland & Knight LLP

Seven Tips for Tribal Governments to Reduce Tribal Member Taxes in 2019

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• With Democrats taking control of the U.S. House of Representatives, tax provisions affecting tribal governments and their members are once again on the table for discussion. • This notice provides an overview of seven...more

Kramer Levin Naftalis & Frankel LLP

How to Choose the Right Guardian

Kramer Levin Naftalis & Frankel LLP on

When preparing a will, the primary emphasis is typically on the disposition of property and related tax issues. However, selecting the right guardian to care for minor children is one of the most significant planning...more

Clark Hill PLC

5 Important Estate Planning Lessons for Parents in Manchester by the Sea

Clark Hill PLC on

When released in late 2016, Manchester by the Sea, directed by Kenneth Lonergan and starring Casey Affleck, received nearly unanimous critical acclaim for exploring themes related to family, personal tragedy, and grief. For...more

Bond Schoeneck & King PLLC

Trust and Estate: Changes made to the Florida Uniform Transfers to Minors Act

Bond Schoeneck & King PLLC on

Every spring, the Florida legislature meets in regular session, and seemingly in every session significant changes are made to Florida’s trust and estate laws. Once again in 2015 changes were made to the Florida Uniform...more

McNees Wallace & Nurick LLC

Estate Planning for Young Families

McNees Wallace & Nurick LLC on

Proper estate planning for young families is essential, despite often being overlooked by both clients and attorneys. Many young families view their estate as being “simple” because in their minds they “don’t have much,” and...more

Weintraub Tobin

Celebrity Trusts & Estates: Paul Walker Leaves His $25 Million Estate to His Teenage Daughter

Weintraub Tobin on

It was recently revealed that the late Paul Walker left his entire estate—valued at approximately $25 million—to his 15-year-old daughter, Meadow....more

BakerHostetler

Florida Homestead Planning and Irrevocable Trusts

BakerHostetler on

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

Adler Pollock & Sheehan P.C.

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

Adler Pollock & Sheehan P.C. on

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

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