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
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
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
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
Courts generally review receiverships very closely, and a party requesting one should follow all required procedures. In Elliott v. Weatherman, parents created an irrevocable living trust and designated their three adult...more
In litigious California, sheltering assets from the risks of business, from ownership of real estate, and from ordinary living, should be considered with both business and personal estate planning. Professionals often advise...more
Notice: Pursuant to Rule 27.1(A) of the Arizona Rules of Probate Procedure, effective September 1, 2012, all non-licensed persons requesting to serve in any court appointed fiduciary capacity must receive training from the...more
Congress was not the only busy legislative body in December. Our state legislature also passed, and the Governor signed, several important bills which affect estate planning for Michigan residents. We found the following to...more
We Didn't (Quite) Fall off the Cliff, But We Still Have To Clean up the Mess! When the clock struck midnight on December 31, 2012, estate planning practitioners said "good night" to an unprecedented period of working...more
Now that the election is over, we anticipate having some guidance soon with respect to the numerous tax and planning issues that have been mired in uncertainty for the past two years. Many tax benefits are scheduled to...more
A recent Private Letter Ruling addressed some interesting issues relating to a modification of an irrevocable trust under state law that is made with the consent of the settlor and all beneficiaries....more
Don't let Taxmageddon deprive you and your beneficiaries of valuable tax saving opportunities Unless Congress acts, at the end of 2012 a number of taxpayer-friendly provisions will expire, resulting in sharp increases in...more
This practice update outlines an estate planning strategy that may appeal to wealthy married clients who wish to use the $5 million federal gift tax exemption before it potentially reverts to a much lower level on January 1,...more
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