In Boyle v. Anderson, No. 210382 (Va. April 14, 2022), the Supreme Court of Virginia addressed an emerging topic in trusts and estates: whether a settlor can require that trustees and beneficiaries submit any disputes to...more
In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following:...more
Effective Oct. 1, 2018, Maryland enacted a one-year statute of limitations for most breach-of-trust actions. To trigger the one-year limitations period, however, trustees must provide certain information to beneficiaries....more
In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following: -
In re...more
In late March, the Georgia House of Representatives (by a vote of 103-56) and the Georgia Senate (by a vote of 43-6) passed HB 441, which would have made Georgia the 18th state to permit self-settled domestic asset protection...more
In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following:...more
December 20, 2017 President Trump intends to sign into law H.R. 1 (the act), the most comprehensive change to the Internal Revenue Code since 1986. The text of the act numbers nearly 500 pages. What follows is a brief summary...more
In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following:
...more
Kroll v. New York State Dept. of Health, 39 N.Y.S.3d 183 (Oct. 5, 2016); see also In re Kroll, 971 N.Y.S.2d 863, 865 (Sur. Ct. 2013) -
Court approves “decanting” of a trust to effectively remove a beneficiary’s future...more
In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following:
-...more
Maryland previously enacted a version of the Uniform Trust Code (UTC), which contains various provisions focused on permitting more efficient administration of trusts. However, Maryland’s version of the UTC initially omitted...more
In the Matter of Estate of Leon C. Chamberlain, 135 A.D.3d 1052 (N.Y. App. Div. Jan. 7, 2016) -
Modification of trust terms is appropriate where limitations on investments permitted under trust instrument frustrated the...more
Berlinger v. Wells Fargo, N.A., Case No. 2:11-cv-459-FtM-29CM, 2015 WL 6125529 (M.D. Fla. Oct. 16, 2015)
- Discretionary distributions to beneficiary which were used in part to satisfy alimony obligations were not...more
In re Estate of House, 2014 Wash. App. LEXIS 3006 (Wash. Ct. App. 2014) -
A release waiving any and all claims that the parties may have or may acquire, bars recovery for unknown claims existing at the time the release...more
8/1/2015
/ Asset Management ,
Attorney's Fees ,
Beneficiaries ,
Conflicts of Interest ,
Creditors ,
Estate Planning ,
Estate Tax ,
Family Businesses ,
Fiduciary Duty ,
Income Taxes ,
LLPs ,
Notice Requirements ,
Partnership Agreements ,
Personal Liability ,
Pour-over Will ,
Probate ,
Ratification ,
Revocable Trusts ,
Settlement Agreements ,
Shareholder Distributions ,
Shareholders' Agreements ,
Statute of Limitations ,
Time Extensions ,
Transfer of Interest ,
Trustees ,
Trusts
While the IRS made only minor changes to Form 990, Form 990-EZ, and Form 990-PF for the 2014 tax year, the IRS made significant revisions to Schedule A. ...more
In February, the House of Representatives passed several tax bills and the Senate Finance Committee approved several tax bills that, if ultimately enacted, would impact tax-exempt organizations....more
After the American Taxpayer Relief Act of 2012, many in the estate planning community thought that tax law dealing with estates and trusts was settled for some time. President Obama’s earlier budget proposals calling for a...more