News & Analysis as of

Beneficiaries

Court Held That Power-Of-Attorney Holder Was Not Authorized To Name Himself As A Beneficiary Of The Principal’s Insurance Policy,...

by Winstead PC on

In Transamerica Life Ins. Co. v. Quarm, Thomas Quarm obtained a life insurance policy and designated his mother as his beneficiary and his brother, Nicholas, as the alternate beneficiary. No. EP-16-CV-295-KC, 2017 U.S. Dist....more

Court Reverses Jury Verdict And Holds That Trustor Could Not Revoke Trust

by Winstead PC on

In Coyle v. Jones, two sisters fought over the whether $197,000 belonged to their mother’s estate or to a trust. No. 05-16-00876-CV, 2017 Tex. App. LEXIS 11173 (Tex. App.—Dallas November 30, 2017, no pet. history). ...more

CMS Guidance Paves Way for Medicaid Work Requirements

by Bass, Berry & Sims PLC on

The Centers for Medicare & Medicaid Services (CMS) started the year with a bang, issuing guidance on January 11, 2018, in support of Medicaid demonstration projects that condition coverage on beneficiary participation in work...more

CPA Shoptalk: 8 Takeaways

On January 10th, 11th and 18th our tax attorneys ?hosted a "CPA Shoptalk" seminar in ?Portland, Vancouver and Bend. Below are ?some key takeaways to consider... 1. Partnership Audit Rules Post-TEFRA - The Balanced...more

Court Held That Retirement Benefits Belonged To The Worker’s Sister, Who Was Designated Beneficiary, And Not The Wife

by Winstead PC on

In Estate of Gibson, a man named his sister as the beneficiary of his retirement plan in 1989. No. 06-17-00059-CV, 2017 Tex. App. LEXIS 9963 (Tex. App.—Texarkana October 13, 2017, no pet.)....more

CMS announces new voluntary episode-payment program: BPCI Advanced

by Thompson Coburn LLP on

On Jan. 9, 2018, the Centers for Medicare and Medicaid Services (CMS) announced a new voluntary episode-payment program, Bundled Payments for Care Improvement Advanced (BPCI Advanced). Following on the success of the initial...more

Staying the Course: Courts Will Not Hear Stayed Actions

by Bennett Jones LLP on

In Ayoungman v Ayoungman, 2017 ABCA 333, the Court of Appeal of Alberta considered a dismissed application of the appellant, who claimed that the chambers judge did not give him a fair chance to argue his position....more

Court Held That A Testator Was Partially Intestate And Did Not Leave His Real Property To His Niece Under His Will

by Winstead PC on

In In re Estate of Neal, Larry Ronald Neal executed a will in which he bequeathed his personal property to his niece, Valorie Jean White, and omitted a devise to his daughter. No. 02-16-00381-CV, 2017 Tex. App. LEXIS 10541...more

New Internal Revenue Code Section 199A: The 20% Deduction for “Pass-Thru” Businesses

by McNair Law Firm, P.A. on

Aside from corporate tax reductions, one of the most important aspects of the new Tax Cuts and Jobs Act beginning this year is the new 20% deduction for “pass-thru” businesses – i.e. businesses that are not corporations. With...more

Recent Cases of Interest to Fiduciaries

by McGuireWoods LLP on

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

What’s Mine is Mine, and What’s Ours is Now Mine

by Butler Snow LLP on

The Tennessee Supreme Court has now determined that money withdrawn from a joint checking account and placed into a certificate of deposit in the name of only one of the spouses loses its status as entireties property. In re...more

Interview Of Stuart Sherman, Licensed Professional Fiduciary At ConservaTrust Fiduciary Services, Inc.

by Fox Rothschild LLP on

For this post, we are fortunate to be joined by Stuart C. Sherman, a California Licensed Professional Fiduciary with ConservaTrust Fiduciary Services, Inc. in Los Angeles, California. Stuart agreed to sit for an interview...more

The Role of the Commissioner of Accounts in Virginia Estate and Trust Administration

by LeClairRyan on

People typically picture the probate process going something like this: a person dies, you find their will, you take the will to the courthouse, the executor pays the debts, and then the executor distributes the assets. Of...more

Medicare's Part B Premium Will Be Unchanged in 2018, But Many Will Pay More. Got That?

The announcement of the 2018 Medicare premium is good news for some beneficiaries and bad news for many others. The good news is that the standard monthly Part B premium, which about 30 percent of Medicare beneficiaries pay,...more

Recent Pennsylvania Superior Court Case Addresses the Messy Business of Divorce, Postnuptial Agreements and Death

A woman who dropped divorce proceedings three days after her husband died is entitled to the proceeds from his insurance policy but cannot claim his pension benefits, according to a recent Pennsylvania Superior Court ruling...more

After a Loved One Passes: Six Important Steps to Know

The days, weeks, and months after the death of a loved one can be emotional and stressful, especially if you are named the executor of your deceased family member or friend’s estate. ...more

Year end is an ideal time to review your estate plan

As of this writing, it’s still anybody’s guess as to whether Congress will enact major tax reform legislation affecting federal gift and estate taxes. This situation casts a large shadow over estate planning at the end of...more

The Dangers and Pitfalls of Transfer On Death and Payable On Death Accounts

Many commentators and clients today voice a concern with avoiding probate. While this blog is not intended to address the desire or merit in avoiding probate, we will highlight some of the potential traps for clients who seek...more

When should you turn down an inheritance?

If a person expects to receive an inheritance from a family member, he or she might choose to use a qualified disclaimer to refuse the bequest. As a result, the assets will bypass their estate and go directly to the next...more

Roger Corman’s Sons Claim Their Mother is Abusing Him to Influence His Estate Plan

The two sons of legendary “B-Movie King” Roger Corman have made it clear through multiple lawsuits that they believe their parents are mismanaging trusts set up to benefit their four children. Allegations made in a recent...more

How To Manage Foreign Trusts With U.S. Beneficiaries

by Carlton Fields on

Do you or did you have a wealthy relative from a different country? Did that relative make you a beneficiary of a non-U.S. trust? Lucky you. But beware that free wealth....more

Situs of Debt Owed under Letters of Credit

Supreme Court of England clarifies terms for enforcement of international arbitral awards in Taurus Petroleum Limited v State Oil Marketing Company of the Ministry of Oil, Republic of Iraq [2017] UKSC 64 - The English...more

Play It Again: No Contest Clauses Must Be Referenced In Each California Trust Amendment

by Downey Brand LLP on

No contest clauses are an ever-evolving area of the probate law in California. The Court of Appeal further refined the rules governing no contest clauses in a decision issued last week, Aviles v. Swearingen (2017) ___...more

5 Considerations in Choosing a Special Needs Trustee

Choosing the right person to serve as trustee of a special needs trust is one of the most important and difficult issues in creating the trust. A trustee typically manages the day-to-day operations of the trust, often making...more

Aiding & Abetting Fiduciary Breach - What is “Knowing Participation” by South Carolina Professionals?

by Nexsen Pruet, PLLC on

The South Carolina Supreme Court recently clarified liability for aiding and abetting a breach of fiduciary duty. In Bennett v. Carter, 2017 WL 5163467, the Supreme Court reversed summary judgment on a claim against lawyers...more

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