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Estate Planning

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... more +
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 -

Estate Tax Changes Past, Present and Future

by McGuireWoods LLP on

I. INTRODUCTION - This outline is a selective and evolving review of the history of the modern federal estate tax. It originated during the attempts to repeal the estate tax in President Clinton’s second term and...more

The First Things to Do Ways to Avoid Financial Loss in the Wake of a Loved One's Passing

by Burns & Levinson LLP on

The occasion of a loved one’s passing is a shock, and the loss can often throw those nearest and dearest off their guard. In fact, despite the difficulty of doing so, this is when at least one survivor must step up and take...more

Undue Influence Cases - A Litigator’s Perspective

Before one considers filing an undue influence claim seeking to set aside a change in a Will or a recent transfer which reduces his or her share in an estate, there are a number of important factors to consider. In order to...more

IRS Provides Some Relief for Post-Divorce Grantor Trust Rule Issues

by Charles (Chuck) Rubin on

During happy days, one spouse (call him or her the “Donor Spouse”) sets up an irrevocable trust for the benefit of the other spouse (call him or her the “Donee Spouse”)....more

Gavel to Gavel: Marriage, the sole cause of divorce

by McAfee & Taft on

Spring brings weddings. Cue delightful melodies as couples waltz toward union. Most engaged couples, however, focus on selection of dresses, tuxes or cake, and ignore that marriage imposes statutory and constitutional...more

Choosing Retirement Account Beneficiaries Requires Some Thought

While the execution of wills requires formalities like witnesses and a notary, the reality is that most property passes to heirs through other, less formal means....more

Estate Tax Changes Past, Present and Future

by McGuireWoods LLP on

I. INTRODUCTION - This outline is a selective and evolving review of the history of the modern federal estate tax. It originated during the attempts to repeal the estate tax in President Clinton’s second term and...more

Impact of New Tax Laws on Estate Planning

by Polsinelli on

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by the President on December 22, 2017, and represents one of the most significant rewritings of the federal tax code since 1986. ...more

Estate Planning Pitfall - You haven’t transferred ownership of a life insurance policy to a trust

After recent tax legislation, including the Tax Cuts and Jobs Act, few tax shelters are left standing. One key exception is life insurance. This brief article details that, if certain requirements are met, the buildup of...more

Preparing a parent for a nursing home

If an elderly parent or other relative who lives alone is experiencing difficulty with daily living activities, it may be time to make the difficult decision to move him or her to a nursing home. This article examines the...more

Is spousal support available after death?

by Field Law on

Perhaps encouraged by the recent decision in Marasse Estate, we have another recent case from the Alberta Court of Queen’s Bench addressing an estate’s ability to claim spousal support and its liability to pay spousal...more

Are your assets protected from creditors?

One of the primary objectives of estate planning is protecting assets from unreasonable creditors’ claims, frivolous lawsuits or financial predators ? the reason being to pass as much wealth to family members as possible....more

Let ILITs Pick up the Tab – Trusts That Protect Your Interest in the Family Business

It is common that one of the largest assets in a family business owner’s estate is his or her interest in the family business. This situation can be problematic because the owner’s interest in the company is included in the...more

Insight on Estate Planning - April/May 2018

In This Issue: - Estate planning for your business: Use an ESOP to properly address your closely held company - Are your assets protected from creditors? - Preparing a parent for a nursing home - ESTATE PLANNING...more

Estate Planning Newsletter - First Quarter, 2018 - Estate Planning and Wealth Preservation under the Tax Cut and Jobs Act of 2017

by Hinshaw & Culbertson LLP on

Charitable Gifting Strategies - The Tax Cut and Jobs Act of 2017 ("TCJA") repealed most itemized income tax deductions and increased the standard deduction—now $24,000 for married couples filing jointly, $18,000 for heads...more

Abusive Tax Shelters Ranked Eleventh On IRS Annual “Dirty Dozen” For 2018

by Fox Rothschild LLP on

The Internal Revenue Service has warned taxpayers to be wary of abusive tax shelters, which remain on the annual “Dirty Dozen” list of tax scams for 2018. These sophisticated schemes, particularly those involving...more

Rolling the Dice on Costs of Estate Litigation

by Field Law on

Alberta Courts have been busy on the topic of costs in estate litigation in the past few months. Four recent decisions issued out of three judicial centres in Alberta provide a good reminder of just how unpredictable...more

The Supreme Court - March 27, 2018

by Dorsey & Whitney LLP on

Hall v. Hall, No. 16-1150: Petitioner Elsa Hall and respondent Samuel Hall are siblings litigating against each other in two consolidated cases surrounding the management of their mother’s property and estate. One of the...more

Who Would Inherit Luke Skywalker’s Estate?

by LeClairRyan on

Spoiler Alert: This post contains spoilers about the recent Star Wars movie, The Last Jedi. At the climax of The Last Jedi, Luke Skywalker appears via Force Projection on the planet Crait to confront his nephew Kylo Ren...more

Succession Plans That Succeed

by Fox Rothschild LLP on

Succession plans ask what will happen when the principal owner/operator is not available. A succession plan may be coordinated with an estate plan, which contemplates dispositive transfers through sale, and other means....more

Estate Planning for Millennials and the “Middle Class”

With all the changes in the new tax laws, some people may be hesitant to move forward with an estate plan. It is important, however, to keep in mind that most clients will not be subject to the federal estate tax and...more

2018 Cost of Living Adjustment of Certain Dollar Amounts Under Colorado Probate Code

The 2018 cost of living adjustment list of certain dollar amounts under the Colorado Probate Code has been published by the Colorado Department of Revenue. It is important for probate practitioners to be aware of these...more

What Canada’s new income-splitting rules mean for partnerships

by DLA Piper on

This is the third instalment in a series of articles examining the draft legislation and explanatory notes on Canada’s new income-splitting rules, issued by the Department of Finance on December 13, 2017 and which are to be...more

Mo’ Money, Mo’ Administration

by Field Law on

March 9th marked the 21st anniversary of the death of Christopher Wallace, or probably better known to you as legendary rap artist Notorious BIG or Biggie. Wallace died at the age of 24 after being shot in Los Angeles. The...more

Texas Supreme Court Holds That Testator Devised Property As A Life Estate

by Winstead PC on

In Knopf v. Gray, the will disposed of the testator’s entire estate, specifically including a tract of land. No. 17-0262, 2018 Tex. LEXIS 249 (Tex. March 23, 2018)....more

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