U.S. insurance reciprocals — noncorporate statutory entities in which subscribers mutually agree to insure one another — should note recent action by a senior regulatory body that could limit fees payable by a reciprocal to...more
The idea of visiting an attorney for your estate planning can be daunting. Below is a list of to-do items or at least items to think about before your visit....more
Imagine that you are the trustee of your father’s trust and also hold his power of attorney. He is in his mid-80s, physically frail and depressed. He has been diagnosed with a neurocognitive disorder and two doctors have...more
A recent case by the Tennessee Court of Appeals highlights the importance of changing one’s insurance and retirement policy beneficiaries after divorce. This is true no matter what the divorce documents say and no matter what...more
Parents of college students or of any child who has turned 18 years old should encourage their adult child to execute a durable power of attorney, health care proxy and HIPAA Authorization....more
The use of Assisted Reproductive Technologies (“ART”) is becoming more and more common, and those utilizing ART may have additional considerations when creating or updating their estate plan. This blog will focus specifically...more
With the exciting and long overdue news of the increase in the Massachusetts estate tax exemption from $1 million to $2 million for decedents dying on or after January 1, 2023, many Massachusetts residents have been left...more
In In re CII Parent, Inc., the Bankruptcy Court for the District of Delaware affirmed a secured lender’s prepetition exercise of its proxy rights and its subsequent removal and replacement of the directors/managers of the...more
On January 30, 2023, the Minnesota Court of Appeals issued an opinion in In re Eva Marie Hanson Living Trust addressing the ability of an attorney-in-fact to amend a revocable trust on behalf of an incapacitated trust...more
Now that high school graduation season has passed, parents of college students (or of any child who has turned 18 years old) should encourage their adult children to execute a durable power of attorney, health care proxy and...more
Another day, another decision by the California Court of Appeal making it more difficult for residential care facilities for the elderly (“RCFEs”) to enforce their arbitration agreements. Upon admission to virtually any...more
Daughter with Power of Attorney Had Burden to Show No Undue Influence over Father - Coscia v. Sweezey, 2021 WL 4765696 (Mass App. Ct. October 13, 2021) - Does holding a power of attorney from a parent in declining...more
In Moore v. Estate of Moore, a decedent’s wife claimed that she had an interest in an oil and gas lease formerly owned by her deceased husband. No. 07-20-00019-CV, 2021 Tex. App. LEXIS 6142 (Tex. App.—Amarillo July 30, 2021,...more
If your life changes, so should your estate plan. Marriage, divorce, death of a spouse, a birth and a changing relationship with a child are just some of the life changes that may affect your estate plan. Unfortunately, as...more
November 2020 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts AFRs - Certain federal interest rates increased slightly for November of 2020, while...more
“The only thing that stays the same is everything changes.” I can hear Tracy Lawrence singing that in my head just as clear as when I first heard it in 1996. I didn’t quite understand it back then, but I do now. Change is a...more
Following a recent Delaware case, buyers in M&A deals should ensure that their purchase agreements adequately provide for access to information from the seller in case of post-closing disputes. In Fortis Advisors, LLC v....more
Maybe you were informed ahead of time or maybe you found out when you were first called upon to act. In any event, someone (a parent, a sibling, a friend, a neighbor) named you as their agent or attorney-in-fact under a...more
McAfee & Taft recognizes the need for our clients to be as prepared as possible to face the uncertainties posed by COVID-19. As such, we encourage our clients to consider whether it is appropriate for them to obtain or update...more
When people ask me what they can do to make things easier for their loved ones if something happens to them, the first question I ask is if they have power of attorney documents in place. A good financial power of attorney...more
There were no significant changes in Vermont’s leadership team during the last election cycle. Governor Phil Scott, a Republican, was re-elected in November 2018 for another two-year term. Michael Pieciak, the Commissioner...more
A power of attorney is a very important estate planning tool, but in fact there are several different kinds of powers of attorney that can be used for different purposes. Before executing this crucial document, it is...more
A recent decision by the Supreme Court of Appeals of West Virginia confirms the binding nature of arbitration agreements for nursing home admissions, even when an “alternate” power of attorney signs the agreement, as long as...more
As you may be aware, North Carolina adopted the Uniform Power of Attorney Act effective January 1, 2018. The new POA Act effectively rewrites the entire POA statute as it applies to General Powers of Attorneys. The new POA...more
Incapacity planning is a major component of an estate plan. Quite often people name one person to serve as a health care agent and another person to serve as a financial agent. What role does one agent have as opposed to the...more