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Read Wills, Trusts, & Estate Planning updates, articles, and legal commentary from leading lawyers and law firms:
Stark & Stark

Navigating Gift Treatment in Divorce: Key Considerations

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The end of the year is upon us, and often parents or other individuals make gifts to their children for the maximum amount allowable to avoid federal and state gift taxes. In the absence of marital bliss, how these gifts are...more

Miller Canfield

The Gift and Estate Tax Exclusion: Lock It In or Let it Ride?

Miller Canfield on

The Gift and Estate Tax Exclusion is currently scheduled to be reduced by approximately 50% in about 13 months. Without action from Congress, on January 1, 2026, the Exclusion will go from almost $14 million to about $7...more

Downey Brand LLP

Godoy v. Linzner and the Lawyer’s Duty to Shut Down a Bad Idea

Downey Brand LLP on

Under universally accepted law, across every jurisdiction, lawyers owe vital and concrete duties to their clients.  The duty of confidentiality.  The duty of loyalty.  The duty to disclose.  And, greatest of all, the duty to...more

Charles E. Rounds, Jr. - Suffolk University...

When virtual representation is not an option in trust-reformation litigation

In an external contract-based or tort-based dispute between the trustee and a third party to the trust relationship, the beneficiaries are generally not necessary parties. But all beneficiaries (of an irrev. trust) whose...more

Saiber LLC

What Is Estate Administration and How Long Does It Last?

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When an individual passes away, their assets must be distributed to their named heirs or beneficiaries. The beneficiaries may be designated as a co-owner or a beneficiary, or the assets will pass to the estate to be...more

Winstead PC

Court Had Jurisdiction To Determine Claims Involving Non-Probate Assets

Winstead PC on

In Castaneda v. Chapa, the executrix of an estate sued regarding the decedent changing account designations and a deed to real estate. No.13-22-00537-CV2024 Tex. App. LEXIS 3376 (Tex. App.—Corpus Christi May 16, 2024, no pet....more

Fleurinord Law PLLC

Hermès Heir Nicolas Puech’s Unconventional Estate Plan & Adult Adoption in Texas and Florida

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Nicolas Puech, a lesser-known heir of the Hermès luxury brand, has taken an unusual approach to his estate plan by deciding to leave his fortune to his former gardener. Puech, who has long been known for his philanthropic...more

Ballard Spahr LLP

New Laws for a New Year: Year-End Estate Planning in Preparation for 2025

Ballard Spahr LLP on

As 2024 quickly comes to a close, the new year will bring a change in the presidency, a new Congress, and potential changes to policies and laws that could impact individuals of all wealth levels. Going into the election,...more

IR Global

Strategic Growth in Wealth Advisory: The Financial Harvest Success Story

IR Global on

In financial services and specifically wealth advisory, success is often measured by the growth of assets under management and the ability to navigate challenging market conditions. For David and Katie Witter, founders of...more

Katten Muchin Rosenman LLP

2024 Year-End Estate Planning Advisory

This year was busy for trusts and estates practitioners. With 2025 marking the final year of the Tax Cuts and Jobs Act (TCJA), many of its implications for federal corporate and individual income tax, gift, estate and...more

Mintz

Massachusetts Supreme Judicial Court Upholds Trustee’s Adjustment from Principal to Income

Mintz on

Trustees have many duties, including the duty of loyalty, the duty to invest prudently, and the duty of impartiality to all beneficiaries. Trustees must also effectuate the wishes of the trust’s settlor. These duties often...more

Proskauer Rose LLP

Wealth Management Update - December 2024

Proskauer Rose LLP on

December 2024 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts - The December Section 7520 rate for use in estate planning techniques such as CRTs, CLTs,...more

Ward and Smith, P.A.

Securing Your Legacy: How Marital Estate Rights and Divorce Impact Your Estate Plan

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Marital estate rights create the potential for catastrophic consequences should a spouse pass away at a time when the parties are physically separated but have not yet signed a separation agreement or been granted a divorce....more

The Estate Lawyers

Protecting Clients and Their Estates from Undue Influence - Part 3: Planning vs. Litigating

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Why do estate planners — traditionally non-litigating attorneys — sometimes end up in litigation? The mindset of an estate planner is about helping people. You work to help clients make and carry out major life...more

Saul Ewing LLP

Is a Revocable Trust Right for You?

Saul Ewing LLP on

When crafting an individual estate plan, you should consider whether a Revocable Trust is right for you. Below is an analysis of an artificial fact pattern and the estate plan I would recommend based on that fact pattern....more

The Estate Lawyers

Protecting Clients and Their Estates from Undue Influence - Part 2: Confirming Undue Influence and Preparing for Action

The Estate Lawyers on

A wealthy man with four adult children, three daughters and a son, left millions to his daughters when he died, but nothing for his son. Was that the father’s intention? The answer came after much acrimonious litigation...more

Dunlap Bennett & Ludwig PLLC

Comprehensive Estate Planning Is A “Team Sport!”

I think it’s fair to say that when people think about the term “estate planning” (if they ever really think about it that is), they associate it with lawyers and courts and the classic “reading of the Will” fable, which of...more

DarrowEverett LLP

Trust Administration: Key Steps to Protecting Your Legacy

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Estate planning is an essential process which can ensure that your wealth is distributed appropriately after you pass. Every estate planning attorney’s goal is to assist clients to protect their assets, instead of allowing...more

The Estate Lawyers

Protecting Clients and Their Estates from Undue Influence - Part 1: Understanding and Identifying Undue Influence

The Estate Lawyers on

A wealthy man with four adult children, three daughters and a son, left millions to his daughters when he died, but nothing for his son. Was that the father’s intention? The answer came after much acrimonious litigation...more

Ward and Smith, P.A.

Death and Taxes for North Carolina Business Owners

Ward and Smith, P.A. on

Changing tax laws, political uncertainty, and the whole family at Thanksgiving can take us on a roller coaster ride of ups and downs.  But savvy business owners (and their estate planning counsel) know that – in the end –...more

Rivkin Radler LLP

Year-End Gifting: Using Your IRA to Make Gifts to Charity

Rivkin Radler LLP on

If you are at least 70 ½ years old and you have a traditional IRA, you can donate up to $105,000 directly from your IRA account to charity. This direct transfer, called a Qualified Charitable Distribution (QCD), avoids having...more

Cadwalader, Wickersham & Taft LLP

Heir and Square

The Uniform Partition of Heirs Property Act (the Heirs Act) was originally enacted in New York in December 2019 to protect heirs of real property from being forced to sell their property at auction. The Act was most recently...more

Warner Norcross + Judd

Is Your Business Planning Ready for an Unexpected Incapacity or Death? Stress Testing Your Estate Planning – Step 2

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Most people take steps to maintain good health, including scheduling annual checkups with their doctors to confirm there are no immediate or long-term health concerns. This checkup could include a stress test, which lets you...more

Goulston & Storrs PC

Prenuptial Agreement Held to Be Valid Waiver of Spouse’s Statutory Right of Election

Goulston & Storrs PC on

Generally, under New York EPTL 5-1.1-A, if a decedent is survived by a spouse, a right of election is given to the surviving spouse to take a share of the decedent's estate “equal to the greater of (i) fifty thousand dollars...more

Goulston & Storrs PC

The CTA Filing Deadline is Approaching. Is Your BOIR Filed Yet?

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The clock is ticking—just 49 days remain until the one-year filing deadline for the Corporate Transparency Act (CTA)! Entities established before January 1, 2024, must submit a beneficial owner information report (BOIR) by...more

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