Wills, Trusts, & Estate Planning Updates

Read Wills, Trusts, & Estate Planning updates, articles, and legal commentary from leading lawyers and law firms:
News & Analysis as of

Threat of Litigation Eliminates Charitable Set Aside Deduction for Estate

Estates and trusts with charitable beneficiaries often seek to employ the Code Section 642(c) charitable set aside deduction for income earned by the estate and trust that will eventually (but not in the current tax year) be...more

Punishing Good Deeds in California

Most state treasurers now demand that life insurers search public databases, such as the Social Security Administration’s Death Master File (DMF), for potential claims. State treasurers similarly require insurers to remit...more

Bus Driver’s Aneurysm Found Compensable

The South Carolina Court of Appeals issued an opinion on February 18, 2015, wherein it found a bus driver’s death due to an aneurysm compensable and the driver’s common-law wife entitled to benefits. ...more

"The Estate Planner" – March/April 2015

In this issue: - Second Trip Down The Aisle? – Update Your Estate Plan To Reflect Your Second Marriage - 21st Century Estate Planning For Digital Assets - Planning For Aging Parents – 5 Tips For The...more

Life Insurance Unclaimed Property Recommendations of the Uniform Law Commission Working Group

The Uniform Law Commission (ULC) Life Insurance Working Group (Working Group) has released its recommendations to revise the life insurance provisions of the Uniform Unclaimed Property Act of 1995 (1995 Uniform Act or...more

Does the trustee who socially invests entrusted funds breach his/her/its fiduciary duty of undivided loyalty, absent express...

On February 8, 2015, The University of California Student Association [which purports to represent all 240,000 students enrolled in the UC system’s 10 campuses] passed [9-1-5] the following resolution, which, in part, calls...more

Extremely Low Interest Rates: Your Estate Planning Opportunity is NOW

Janet Yellen this…. Janet Yellen that – good for business, bad for savers. In March 2015, the rates the IRS requires be used for estate planning are as low as ever. There are three estate planning opportunities that thrive on...more

Be Wary of Estate Tax Provisions in the Proposed Fiscal Year 2016 Budget

It's time to call your estate and financial planners - new tax provisions in the proposed FY 2016 budget once again show the specter of potentially brutal taxes at death for the moderately wealthy....more

Obama Administration's 2016 Budget Proposal

You may have seen references to President Obama's 2016 budget proposals and how they might affect your gifting and estate planning opportunities. Given that Congressional Republicans, who now control both the House and the...more

Under the Dome: Inside the Maine State House

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. February Vacation Results in Relatively Quiet Week in Augusta, Except the Tax Package...more

Succession planning for the family-owned hospitality business

Succession planning for the family-owned hospitality business: protecting your family and your business - The hospitality industry has been kind to families over the centuries, providing a good living for many, and...more

White House Budget Proposal Includes Many Retirement-Related Provisions

On February 2, 2015, the White House released its Fiscal Year 2016 Budget, which includes a number of tax code changes targeting retirement savings. If enacted as presented, the proposals would have a significant effect on...more

Facebook Takes a Step Forward for Digital Afterlife

Late last week Facebook released several new features that will aid in the management of a user’s account after the user’s death. While there has been little notification of these features on Facebook itself, the new features...more

Getting to Appeals In an Estate or Gift Tax Audit with Pending Information Requests

Ain’t gonna happen! So says the IRS in guidance released by the IRS, at least in most circumstances. In a memo to IRS estate and gift tax examination employees, the IRS advises...more

Facebook Allows Users to Designate "Legacy Contact"

Access to digital assets following an individual's death continues to be a hot topic, and once again has made the news. This time, Facebook has announced a new feature called a "Legacy Contact." Essentially, this is the...more

Maximize Your Charitable Gift With Your IRA

Valentine’s Day is a great time to count your blessings and make good on your charitable intentions. Why not provide for your loved ones while also providing for a charity that is near and dear to your heart? Clients with an...more

Estate Planning Pitfall: You’re planning to retire abroad

People who have dreamed of spending their golden years in a tropical paradise or a culture-rich European city should discuss their plans with their advisor before making a move. It’s important to understand the potential tax...more

Court Permits Beneficiary Designations By Telephone

In a somewhat surprising case, the US Court of Appeals for the Ninth Circuit has ruled that a participant may change his prior written beneficiary designation by a telephone call to the plan sponsor. The Becker v....more

Appointing a Legacy Contact for a Facebook Account After Death

Facebook now allows you to appoint a “legacy contact” for your Facebook account after you die. Previously, after a user died, Facebook would not allow anyone else to access or modify the deceased user’s Facebook account, but...more

Avoiding undue influence claims

A primary purpose of estate planning is to ensure that wealth is distributed according to one’s wishes after death. But if a family member challenges the plan, that purpose may be defeated. If the challenge is successful, a...more

Obama 2015 Tax Proposals

President Obama’s State of the Union address, delivered on January 20, 2015, proposed three significant changes to US federal tax law: (1) an increase from the current 20 percent rate to 28 percent for the top federal capital...more

(US) Revised Pennsylvania Statute Creates Power of Attorney Chaos

The Pennsylvania Legislature enacted extensive changes to Title 56 of the Decedents, Estates and Fiduciaries Code affecting powers of attorney, effective as of January 1, 2015. The amendments create a number of issues for...more

New Minnesota Trust Code in the Works

An overhaul of Minnesota trust law is in the works, as the Minnesota House and Senate consider a bill to enact the “Minnesota Trust Code.” Minnesota would join 30 other states that have adopted a version of the Uniform Trust...more

2015 Tax Update Letter

Dear Clients and Colleagues: This letter is an update on the most recent estate and gift tax developments and serves as a follow-up to our past yearly tax updates, which can be accessed by clicking the “Family Wealth...more

What Type of Last Will and Testament Should I Have? #EstatePlanningAttorney

Estate planning has a couple of constants and always will. The first is changes in your family and circumstances will always happen. Whatever plan you put in place will, over time need to be adjusted and changed based upon...more

3,770 Results
|
View per page
Page: of 151

Follow Wills, Trusts, & Estate Planning Updates on: