News & Analysis as of June 3, 2025

Estate Planning

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Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process. less -

Invalidating Legal Documents and Transactions in Article 81 Guardianship Proceedings

Farrell Fritz, P.C. on 6/2/2025

Much has been written about courts invalidating instruments or transactions after a person’s death. Courts invalidating instruments or transactions during a person’s lifetime is discussed less often. A mechanism for doing so...more

Special Needs Estate Planning: Ensuring a Secure Future for Your Loved One

Kohrman Jackson & Krantz LLP on 6/2/2025

Estate planning is a crucial process for anyone looking to protect their family and assets, but for families with a loved one who has special needs, it requires additional considerations. Without proper planning, a...more

The High Cost of Delay: Why Ultra-High-Net-Worth Families Must Act Now on Estate and Asset Protection

Mandelbaum Barrett PC on 5/30/2025

For ultra-high-net-worth individuals (UHNWIs) whose estates far exceed the 2025 federal lifetime exemption of $13.99 million per person, the stakes for estate and asset protection planning have never been higher-or more...more

From Purple Reign to Probate Pain: Lessons from Prince’s $156 Million Estate Planning Mistake

Fleurinord Law PLLC on 5/30/2025

The Purple Reign… in Chaos: Netflix, Secrets, and the Fight Over Prince's Legacy...more

Why Wait? – Estate Planning for Young Families

Ward and Smith, P.A. on 5/30/2025

Especially in the beginning stages of building a family, legal documentation is not often top of mind. However, for young families, establishing a comprehensive estate plan is an important and proactive step toward...more

Special Needs Planning 101: 10 Ways to Safeguard Your Loved One’s Future

Mandelbaum Barrett PC on 5/30/2025

Careful planning for a loved one with disabilities is one of the most important and compassionate acts you can take as a parent or caregiver. It’s not just about securing their financial future, it’s about preserving their...more

Before They Go: Two Essential Legal Documents Every Parent Should Consider Before Their Child Heads Off to College

Morris James LLP on 5/30/2025

As your child enters adulthood and embarks on their journey to college, there are many tasks to consider. Among the excitement of packing lists and dorm room must-haves, legal, financial and medical authorities are important...more

Evolving Estate Planning for Family Business Owners: Adapting to Life Stages and Growth

Katten Muchin Rosenman LLP on 5/30/2025

On April 30, 2025, Katten hosted Loyola University Chicago's Family Business Center for the "Family Business Through a Legal Lens" program. Private Wealth Partner Adam Damerow and Loyola University Chicago School of Law...more

Protecting Legacy: Privacy and Estate Planning Tips for Athletes

Offit Kurman on 5/30/2025

Professional athletes face unique challenges when it comes to managing their personal, professional, and financial affairs. With significant public visibility, substantial income, a grueling training schedule, and a...more

Tax Reform is Underway

Steptoe & Johnson PLLC on 5/29/2025

Will America celebrate the Fourth of July with the passage of major tax reform? On May 22, House Republicans passed the “One Big Beautiful Bill Act” under the budget reconciliation process. This marks a significant milestone...more

“One Beautiful Bill Act” | Tax-Related Provisions

Freeman Law on 5/29/2025

President Donald Trump’s “One Big Beautiful Bill Act” recently passed the House. Below are some, but not all, of the tax-related provisions included in the bill. It is worth noting that many of the items below are temporary...more

Tax Planning for Sports Franchise Owners, and the Rest of Us

McCarter & English, LLP on 5/29/2025

Jim Irsay, the longtime owner and CEO of the Indianapolis Colts, died unexpectedly in May 2025. Irsay leaves behind not only a legacy in the NFL but also a sports franchise valued at approximately $4.4 billion. As Irsay’s...more

Court Rules On Personal Jurisdiction In A Trust Dispute, Holding That In Rem Jurisdiction Still Requires Personal Contacts With A...

Winstead PC on 5/29/2025

In Hooten v. Collins, a dispute arose between the trustee of a Texas trust and a beneficiary who resided overseas regarding the distribution of trust assets, which primarily consisted of real estate in Texas. No....more

Protecting And Empowering LGBTQ+ Iowans In Times Of Legal Uncertainty

Dentons on 5/28/2025

Recent years have seen an unprecedented rollback of many hard-won civil rights for LGBTQ+ Iowans at the state and federal levels. There are several ways LGBTQ+ Iowans can protect and empower themselves and their loved ones...more

Liability of Trust Beneficiary Who Litigates Vexatiously or Participates in a Breach of Trust

Charles E. Rounds, Jr. - Suffolk University... on 5/27/2025

The Restatement (Third) of Trusts, specifically §104, lists four general areas in which the beneficiary’s actions may lead to an assumption of internal liability to the trust estate: (1) A loan or advance to the beneficiary...more

Navigating Business Interests as a Fiduciary in California

Weintraub Tobin on 5/27/2025

Administering a trust or probate estate is challenging enough—but what happens when you, as a private professional fiduciary, are tasked with managing a business interest? Whether you’re a professional trustee, conservator,...more

Estate Planning Red Flag: You Own Property Jointly With Your Child

Adler Pollock & Sheehan P.C. on 5/23/2025

There are specific estate planning strategies that, on the surface, may sound appealing. This includes owning property jointly with a child or other family member. However, these techniques can result in unwelcome outcomes...more

Presentation - Parting Is Such Sweet Sorrow: Issues Arising From Trust Termination and Trustee Succession In Texas

Winstead PC on 5/23/2025

On May 21, 2025, David Johnson gave his presentation “Parting Is Such Sweet Sorrow: Issues Arising From Trust Termination and Trustee Succession In Texas,” to the North Texas Estate Planning Council. This presentation...more

Love Actually: Planning Considerations for Marriage, Divorce, Cohabitation, the Death of a Spouse, and More

Farella Braun + Martel LLP on 5/23/2025

Welcome to The Verdict: Estate Planning Through Film. Today, Farella podcast host Hons Yung is joined by Gigi Orta, a managing director at J.P. Morgan Private Bank, to discuss the movie Love Actually. Gigi and Hons...more

WA Estate and Capital Gains Tax Changes Under SB 5813

Ballard Spahr LLP on 5/23/2025

Facing a projected budget deficit of $12 to $16 billion, Governor Bob Ferguson signed several bills into law this week which will significantly increase taxes in Washington State. An overview of the increases to Business and...more

Going Once, Going Twice…(but who’s it going to? And what’s it worth?)

Lowenstein Sandler LLP on 5/21/2025

Host Warren K. Racusin, Chair of Lowenstein's Trusts & Estates practice, invites Meghan M. Federman and Joanne Mournet, President at DOYLE Auctioneers & Appraisers, to cover how estate planning for art and valuables differs...more

Diversification and Tax Savings with a 1031 UPREIT

Warner Norcross + Judd on 5/21/2025

A 1031 UPREIT (Umbrella Partnership Real Estate Investment Trust) transaction allows real estate investors to exchange property on a tax-deferred basis under IRS Section 1031 while gaining diversification and liquidity by...more

A Trustee or Executor has Substantial Financial and Legal Liability

Allen Barron, Inc. on 5/21/2025

Have you been asked to be a trustee or executor? A trustee or executor has substantial financial and legal liability, and the trust or estate will pay an attorney to guide them through the process....more

Estate Planning Considerations for Individuals Using IVF with Cryopreserved Embryos

Bowditch & Dewey on 5/21/2025

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

Planning for the Future: Legal Tools for Adults with Disabilities

Dentons on 5/21/2025

Navigating special needs planning can be a complex journey for people with disabilities and their families and caregivers. As individuals with disabilities reach adulthood, important decisions must be made to ensure their...more

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Estate Planning

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