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Estate Planning Family Businesses Trustees

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 -
Holland & Knight LLP

Tennessee Trust Bill Takes Effect and Makes Important Changes to the State's Trust Laws

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Tennessee Gov. Bill Lee approved Public Chapter No. 695 on April 11, 2024, as passed by the Tennessee General Assembly (Trust Bill). The new law became effective on July 1, 2024, and it made several important changes to...more

Rivkin Radler LLP

Disclaiming to Save Taxes

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It’s not enough for the founder of a closely held business to have successfully established the business. The business has to grow, not only to increase profits, but also to make it more competitive and to diversify its...more

Bowditch & Dewey

Beyond Taxes: 10 Important Reasons Why Everyone Needs an Estate Plan

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People often assume that if their estate isn’t taxable, they don’t need to have an estate plan. In 2023, a Massachusetts estate tax return must be filed if the value of the deceased person’s gross estate exceeds $1 million. A...more

Winstead PC

Court Affirmed Order Granting Injunction To Allow Successor Trustees To Manage A Business Owned By A Trust

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In Clark v. Clark, two brothers sued a third brother regarding the third brother’s ability to be trustee of a trust due to a traumatic brain injury. No. 14-19-00604-CV, 2021 Tex. App. LEXIS 9866 (Tex. App.—Houston [14th...more

McDermott Will & Emery

[Event] 2019 Private Client West Coast Forum – November 8th, Palo Alto, CA

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Please join us this November for McDermott Will & Emery’s Private Client West Coast Forum. At this complimentary program, experienced McDermott partners will lead discussions on a broad range of topics pertinent to ultra-high...more

McDermott Will & Emery

[Event] 2019 Private Client West Coast Forum – November 7th, San Francisco, CA

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Please join us this November for McDermott Will & Emery’s Private Client West Coast Forum. At this complimentary program, experienced McDermott partners will lead discussions on a broad range of topics pertinent to ultra-high...more

McDermott Will & Emery

[Event] 2019 Private Client West Coast Forum – November 6th, Los Angeles, CA

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Please join us this November for McDermott Will & Emery’s Private Client West Coast Forum. At this complimentary program, experienced McDermott partners will lead discussions on a broad range of topics pertinent to ultra-high...more

Ruder Ware

Will Parents’ Long-Term Care Costs Sink the Farm?

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Originally Published on © 2018 Agri-View. Madison, WI. Problems can result when parents maintain ownership of a farm but need long-term health-care services from an assisted-living facility or nursing home. Expenses...more

Davis Wright Tremaine LLP

Washington’s New Trustee Delegation Law: Allowing Fiduciaries to More Easily Keep Businesses in the Family

If you are a family business owner in Washington who wants to place control of your business in the hands of a trustee until your beneficiaries are ready to assume control, or for other reasons, a recent change in Washington...more

McGuireWoods LLP

Recent Cases of Interest to Fiduciaries

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In re Estate of House, 2014 Wash. App. LEXIS 3006 (Wash. Ct. App. 2014) - A release waiving any and all claims that the parties may have or may acquire, bars recovery for unknown claims existing at the time the release...more

Holland & Knight LLP

Trustees Beware: Which Fiduciary Standard Applies to Your “Business Judgments”?

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To what legal standard must a trustee adhere when he or she also participates in the control of a family or closely held business? Courts continue to grapple with this question. The high courts in both Georgia and Nebraska...more

Holland & Knight LLP

Trustees Holding Interests in the Family Business: Intersection of Shareholder and Member Rights and Fiduciary Duties

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Trustees holding interests in family enterprises may have conflicting duties to the beneficiaries as well as unrelated shareholders and members of the business. ...more

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