Irrevocable Trusts

News & Analysis as of

Is the Charitable Deduction for Trusts Limited to Adjusted Basis?

No, says a U.S District Court. An irrevocable trust received distributions from a partnership in one year and purchased property. In a later year it contributed the property to a qualified charity, after the property...more

Wealth Management Update - November 2015

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

Is the Irrevocable Trust Really Irrevocable?

I often meet with clients who have established an irrevocable trust or are beneficiaries of an irrevocable trust established by a deceased family member. Usually, these clients believe that the terms governing these trusts...more

Wealth Management Update - October 2015

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

Domestic Partnership Agreements: Survivor’s Rights on Death

This is the fifth installment of a seven-part series. Florida law provides for various death benefits if a married person predeceases his or her spouse and they have no premarital or postnuptial agreement. For unmarried...more

The Ray Charles’s Foundation Doesn’t Have to “Hit the Road Jack”: Ninth Circuit Permits Foundation to Challenge the Validity of...

On July 31, 2015, the Ninth Circuit reversed the Central District of California’s dismissal of an action brought by the Ray Charles Foundation, seeking, among other things, a judicial determination of the validity and...more

Ray Charles Foundation v. Robinson - USCA, Ninth Circuit, July 31, 2015

Ninth Circuit reverses lower court’s dismissal for lack of standing of action brought by Ray Charles Foundation, finding that Foundation, sole beneficiary of music legend’s estate, had standing to challenge validity of...more

The Estate Planner – July/August 2015

In This Issue: - Can a Broken Trust be Fixed? - Keep it in the Family: Use an intrafamily loan to cover estate taxes - Tax Court: Trust Can Materially Participate in a Business - Estate Planning...more

Trust Property for Cats Sold to Pay for Settlor’s Care

What if the dead hand is still living? A recent trust case prompts the macabre metaphor. In Siegel v Fife (Feb. 26, 2015, B253746) 2015 Cal App Lexis 180, Settlor created a revocable trust in 2005. ...more

California Supreme Court to Review Controversial Documentary Transfer Tax Case

The California Court of Appeal recently held, in 926 North Ardmore Avenue v. County of Los Angeles, that a documentary transfer tax is triggered when a transfer of an interest in a business entity that owns real property...more

In the Uniform Code We Trust: Basic Provisions of Kentucky's Uniform Trust Code

Kentucky recently followed 27 other states in enacting the Uniform Trust Code ("UTC"), which went into effect on July 15th of last year. The sweeping provisions of the UTC will apply to all types of express trusts, even those...more

Wealth Transfer Newsletter

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

California Trust Attorney – Three Things You Should Know About a Trust

What is a trust and how does it differ from a will? Before planning your California trust you should know three important things: 1. A Trust Defined - A trust provides for the allocation of assets when you...more

Is a quiet (silent) trust illusory?

Is a quiet or silent trust illusory? The question is intentionally ambiguous. Is the question whether the trust itself is illusory, or just its quietness? A quiet or silent trust has been defined as “an irrevocable trust...more

Income Tax Cost Basis Planning

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

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

Florida Homestead Planning and Irrevocable Trusts

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

Massachusetts Supreme Judicial Court Decision Affirms Trustee Decanting Authority

The Massachusetts Supreme Judicial Court’s recent decision in Morse v. Kraft recognizes, in certain circumstances, a Trustee’s ability to decant trust assets by distributing them to a new trust in lieu of making an outright...more

Bullock v. BankChampaign: Defalcation Under § 523(a)(4)

Whether because of the declining docket of the Court or the technical subject-matter involved, bankruptcy topics have come before the United States Supreme Court infrequently in recent years. This term, the Court heard a case...more

What is an Irrevocable Trust? [Video]

Phoenix business law firm Jaburg Wilk's Estate Planning attorney Beth Cohn discusses irrevocable trusts. She talks about how people use them and the process involved with them. She explains what decanting is and the...more

529 Plans–Not Always The Best Alternative

Section 529 plans offer many advantages in regard to funding education....more

The Proliferation of Trust Decanting Statutes Continues

Irrevocable trusts are now subject to varying degrees of amendment by court approved modifications, trust protector actions, private settlement agreements, and, of course, decanting....more

Florida Irrevocable Trust Amendment Mechanisms–Ipad, Iphone, And Other Tablet Versions

On Thursday, we published the first version of our Florida Irrevocable Trust Amendment Mechanisms diagram. The posting included links to download it in an abbreviated and expanded PDF format....more

1st Edition – Florida Irrevocable Trust Amendment Mechanisms

In the past, we have assisted practitioners by providing tables and charts to simplify complex legal concepts. For example, one of our most popular downloads is our Summary Table – Restrictions on Transfer of Florida...more

FDIC Insurance: Are Your Accounts Fully Covered?

When a client walks into a bank he or she is bombarded with signs indicating that the funds deposited in the bank are insured by the FDIC. Even if the client does not fully comprehend what that means, the signs offer the...more

33 Results
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.