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Estate Planning › Beneficiaries › Trusts

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 -
Farella Braun + Martel LLP

John Wick - What You Need To Know about the Corporate Transparency Act

Farella Braun + Martel LLP on

Welcome to The Verdict: Estate Planning Through Film. In episode two, host Hons Yung is joined by Farella Braun + Martel's Greg LeSaint to discuss the movie John Wick and the Corporate Transparency Act (CTA). Greg breaks...more

Goodell, DeVries, Leech & Dann, LLP

Bennett v. Gentile: Maryland’s Supreme Affirms Strict Privity Rule in Legal Malpractice Cases

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Maryland’s Supreme Court declined to overturn the strict privity rule in legal malpractice cases. The rule, which generally bars third parties from suing lawyers, was a key issue in the recent Bennett v. Gentile decision. ...more

Brooks Pierce

Changing Laws Present Unique Estate Planning Opportunities for Married Couples

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Today’s federal estate and gift tax laws may be remembered as the most generous to wealthy families since the Great Depression. The 2017 Tax Cuts and Jobs Act (TCJA) doubled the federal estate, gift, and generation skipping...more

Warner Norcross + Judd

Silent Trusts Have Come to Michigan

Warner Norcross + Judd on

Recently, Michigan added a new section to the trust code, making it possible for trust settlors to create “quiet” or “silent” trusts in Michigan. As the name implies, in a silent trust arrangement, a trustee is not required...more

Winstead PC

Court Reversed Summary Judgment On Whether A Person Was The Current Trustee And On Certain Modification Claims But Affirmed...

Winstead PC on

In Crossley v. Crossley, a plaintiff, who was the beneficiary of, or had the power to designate the beneficiary, in two trusts established by his mother, and he filed suit requesting that the court determine whether he or his...more

Proskauer Rose LLP

Wealth Management Update - September 2024

Proskauer Rose LLP on

The September 2024 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 4.8%, a decrease from the August 2024 rate of 5.2%. The September applicable federal rate (“AFR”) for use...more

Husch Blackwell LLP

Planning to Avoid Fiduciary Litigation

Husch Blackwell LLP on

When a loved one dies, the last thing you want to deal with is a lawsuit, or have your heirs inherit a lawsuit. After the death of a maternal or paternal figure that keeps the family together, tensions flare between siblings...more

Woodruff Sawyer

Trustee Liability in the Murdoch Succession Saga

Woodruff Sawyer on

Recently, much has been written about Rupert Murdoch’s petition to amend his Nevada irrevocable trust to grant his eldest son, Lachlan, voting control over News Corp and Fox Corporation. While the battle between family...more

Winstead PC

Texas Supreme Court Reverses Order In Trust Dispute Granting A Constructive Trust

Winstead PC on

In In re Trust A & Trust C, a beneficiary sued a trustee for breach of fiduciary duty and sought a constructive trust over assets that were transferred out of the trust. 690 S.W.3d 80 (Tex. 2024)....more

Shumaker, Loop & Kendrick, LLP

The Estate Planner, September/October 2024

Shumaker, Loop & Kendrick, LLP on

Moving to another state? Revisit your estate plan - If you recently relocated to a new state — or you’re planning such a move — it’s a good idea to review and update your estate plan. You won’t have to throw out your...more

Keating Muething & Klekamp PLL

Using Trust Provisions to Incentivize Beneficiary Behavior

Keating Muething & Klekamp PLL on

For many individuals new to estate planning, particularly younger couples, there is something almost taboo when you start to discuss a revocable trust: does that mean our children will be trust fund babies?...more

Downey Brand LLP

No Such Thing as a Free Ride: Section 859 Awards Can Now Go To Whoever Does the Work

Downey Brand LLP on

Newcomers to probate litigation are frequently surprised by how differently things work in probate court, as opposed to your more straightforward civil courts. (And how do those newcomers know how civil courts work?  Law &...more

Bowditch & Dewey

Remember to Adjust Your Estate Plan During or After a Divorce

Bowditch & Dewey on

Married couples often have wills naming one another as their primary beneficiary. People also often name their spouse as beneficiary of retirement accounts and life insurance policies. Upon commencing a divorce action,...more

Pillsbury - Propel

Estate Planning for Founders - Part II: Planning with Qualified Small Business Stock

Pillsbury - Propel on

This is the second of a four-part series focusing on estate planning fundamentals for founders. This article will address an important topic for owners of Qualified Small Business Stock (QSBS) as defined in Section 1202 of...more

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

Whether an equitable power of appointment incident to a trust relationship is “in gross” or “collateral”: The practical...

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

Section 17.3, comment f, of the Restatement (Third) of Property (Wills and Other Donative Transfers) explains the difference between a collateral power of appointment and a power of appointment in gross: “In traditional...more

Bowditch & Dewey

Key Estate Planning Adjustments to Make After Your Spouse Passes Away

Bowditch & Dewey on

The period after a spouse passes away is an emotional time of mourning. However, there are a handful of estate planning adjustments that you should make to protect your estate under the new conditions....more

Blank Rome LLP

New York Compulsory Accounting Proceedings—A Valuable Tool to Provide Transparency or a Means to Extort a Settlement

Blank Rome LLP on

Most states provide a mechanism by which a beneficiary or other person interested in a trust or an estate may petition a Court asking the Court to order a fiduciary to account for his, her, or its actions and proceedings....more

Allen Barron, Inc.

Remarriage and a Blended Family - It's Time for a New or Updated Estate Plan

Allen Barron, Inc. on

Are you considering remarriage? Do you and/or your spouse have children from a previous marriage? If so, remarriage and a blended family are excellent reasons for a new or updated estate plan. Blended families are quickly...more

Newburn Law

Ensuring Your Pet's Future: The Comprehensive Guide To Pet Trusts

Newburn Law on

As pet owners, we form deep bonds with our furry, feathered, or scaly companions, considering them part of our families. But what happens to these beloved pets if we become unable to care for them due to illness, incapacity,...more

Robins Kaplan LLP

Estate Planning to Protect Generational Wealth Transfers: Lessons From The Gilded Age

Robins Kaplan LLP on

HBO’s The Gilded Age dramatizes the privileged lives of some of America’s wealthiest families in late 19th century New York City. In U.S. history, the Gilded Age covers the 1870s to the late 1890s. Rapid economic growth...more

Robins Kaplan LLP

Q&A With Anne Paape, Managing Director and Senior Fiduciary Counsel at Cresset

Robins Kaplan LLP on

The Spotlight had the pleasure of sitting down with Anne Paape, managing director and senior fiduciary counsel at Cresset and Cresset Trust Company, to talk about the historic transfer of wealth many countries are undergoing,...more

Winstead PC

Trustee’s Ability To Retain And Compensate Attorneys In Texas - Presentation

Winstead PC on

David F. Johnson presented his paper titled “Trustee’s Ability To Retain And Compensate Attorneys In Texas” to the Texas State Bar’s 48th Annual Advanced Estate Planning and Probate Course on June 13, 2024, in Houston, Texas....more

Foster Swift Collins & Smith

Legal-Ease: What is the Downside of DIY Estate Planning?

Foster Swift Collins & Smith on

Dear Jonathan: I am thinking about preparing my own estate planning documents, including a will, powers of attorney and a trust. A close friend of mine just went through this process and it cost her thousands of dollars and I...more

McGuireWoods LLP

Once Removed Episode 24: Expressing Goals and Intent for the Trust

McGuireWoods LLP on

For parents with young children, naming the guardian who will raise their children upon the parents’ passing can be one of the most important and foundational questions of an estate plan. And in fact, because this decision is...more

Allen Barron, Inc.

Passing Assets and Accounts to Your Heirs Is About To Become Much More Difficult

Allen Barron, Inc. on

If you are in the process of long-term estate planning or updating an existing estate plan, the process for passing assets and accounts to your heirs is about to become much more difficult and expensive. Presently, each...more

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