News & Analysis as of

Wills, Trusts and Estates Newsletter - August 2014

In This Issue: - Thinking of Moving to Florida? Maybe a Little Further South is a Better Option - New Investment Thinking for Trustees? - Excerpt from New Investment Thinking for...more

What Right Does an Estate Trustee Have To Sell Real Estate?

Taking on the role of estate trustee can involve many challenges, both legally and otherwise. Being an estate trustee where the deceased assets include real estate can carry with it additional challenges which must be...more

Interaction fo Trustee Indemnities and Liability Insurance

When a trustee is sued for breach of trust and claims against his professional indemnity insurers, questions often arise as to the extent to which the trustee must first pursue any other rights of indemnity (for example...more

Round-up of Recent Decisions Relevant to Trustee and Protector Liability and Indemnities

There continue to be an increasing number of offshore Court judgments considering the nature and extent of an offshore trustee’s liability to third parties (including third parties in foreign jurisdictions), and the rights of...more

Which Courts Have Jurisdiction to Deal with Claims Against Offshore Trustees?

There have been a number of cases decided recently by offshore Courts (particularly in Jersey and Bermuda), in which the Courts have had to consider the scope of their jurisdiction to determine disputes relating to trusts...more

Say It Isn't So – Has Pennsylvania Adopted No Fault Trustee Removal?

Apparently, nothing is sacred. In yet another opinion that chips away at long standing fiduciary principles, the Pennsylvania Superior Court issued an opinion that seems to adopt no fault trustee removal in Pennsylvania....more

Anti-Huber Planning

Asset protection trusts promise their settlors the best of many worlds. They allow a grantor to give away assets to a trust and remove them (and any future appreciation in the trust assets) from their taxable estate. However,...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

Buying a house from a non-human entity or the dead

The tale behind a real estate transaction usually follows the same pattern: a potential buyer approaches a seller after viewing the advertised property, negotiations commence and the parties arrive at a meeting of the minds...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

The constructive general inter vivos power of appointment: A trap for the unwary trustee and his counsel

The constructive general inter vivos power of appointment is the product of the marriage of power of appointment doctrine and creditors’ rights doctrine. It is a topic that is taken up in §4.1.3 of Loring and Rounds: A...more

Dad, it's time.....time to write a Will

For 15 years, my Dad has been building and rebuilding his home. Awake every day at 4 am, he sits in his garage, listens to the radio, drinks his coffee, and sets the day’s agenda. By 6 am, my Dad is busy hammering, sawing,...more

Trustees Holding Interests in the Family Business: Intersection of Shareholder and Member Rights and Fiduciary Duties

Trustees holding interests in family enterprises may have conflicting duties to the beneficiaries as well as unrelated shareholders and members of the business. ...more

Higher Treasury Yields Expected to Negatively Impact New GRATs

Interest rates applicable to grantor retained annuity trusts (GRATs) and other estate planning techniques are expected to increase significantly in August as a result of the recent headline-grabbing volatility in the bond...more

Trusts are not cookie cutter

Many think that a Living Trust is just a form that can be pulled off a bookshelf or printed on a computer. Or that a Living Trust done online using the internet, or prepared by a non-attorney paralegal, or by an...more

Fiduciaries’ Responsibilities in Administering Trusts

At some point in your life, you may need the services of a California professional fiduciary. What is professional fiduciary and what services does he or she offer?...more

Planning Your Estate

The basic goals of estate planning are to dispose of your property in accordance with your wishes and to avoid unnecessary taxes and expenses....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

Choosing the right estate trustee

Your estate trustee (or executor) is the person you choose to handle your estate after you die. This position carries a lot of responsibility. It’s important to choose your estate trustee with care. An estate trustee...more

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