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Estate Planning Fiduciary Duty

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 -

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

New Jersey Enacts Uniform Fiduciary Access To Digital Assets Act

by Cole Schotz on

New Jersey recently enacted the Uniform Fiduciary Access to Digital Assets Act (the “Act”). In general, the Act provides executors, trustees, guardians, and power of attorney holders (“fiduciaries”) with the ability to access...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

November Trust and Estates Litigation Advisory

by Goulston & Storrs PC on

Since our last newsletter, there has been one significant development in the Probate and Family Court, and one decision of note. First, effective as of November 20, 2017, the Probate and Family Court issued Standing...more

Bad Blood Among Late Developer’s Heirs Jeopardizes Real Estate Mega-Deal

A New York real estate deal valued at close to $1 billion came to a grinding halt when the underlying animosities between a late developer’s widow and his children from previous marriages came to a head in court. Although the...more

So You've Been Named as Trustee…Now What?

by Faegre Baker Daniels on

You’ve just discovered that you’ve been named trustee of a trust. Not only are you unsure of whether you should accept, you’re also wondering what exactly the role entails, the types of problems you might face, and whether...more

Court Addresses Breach Of Fiduciary Duty and Partition Issues In Trust Dispute

by Winstead PC on

In Koda v. Rossi, a mother created a trust that provided that her son was to serve as trustee and that she, he, and a daughter were the beneficiaries. No. 11-15-0150-CV, 2017 Tex. App. LEXIS 8194 (Tex. App.—Eastland August...more

The Story Of The $4 Billion Surcharge Case Against JPMorgan

A Dallas jury last month issued a verdict of more than $5 billion against JPMorgan Chase for various breaches of fiduciary duties – by any measure an enormous damages award in a probate case and reportedly the largest in...more

What is an Estate Executor’s Role?

Often when a person is appointed to serve as the executor (if there was a will) or administrator (if there was not a will) of a family member or friend’s estate they have not had experience with the role or process. This post...more

Would You Take on a Job if the IRS Had Discretion to Decide Whether You Got Paid?

by Charles (Chuck) Rubin on

Raelinn Spiekhout was the personal representative of the estate of Deborah Scott. The estate was subject to claims of over $1.8 million dollars, including IRS claims for $591,406.05. The principal asset of the estate was real...more

California Professional Fiduciaries Help Elders and Resolve Conflicts

by Downey Brand LLP on

California trust and estate disputes may be avoided or resolved with the appointment of a private professional fiduciary to act in an oversight role with respect to an elder’s care and/or finances.  In a recent post, we...more

Wealth Management Update - July 2017

by Proskauer Rose LLP on

August Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The August § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more

You’ve Got (E-)Mail! Can Your Survivors Access It After Your Death?

by Farrell Fritz, P.C. on

E-mail is seemingly omnipresent. Day in and day out, we use it in our business, social, and personal affairs. Yet, the improvements to the technology associated with e-mail have far outpaced the development of the law...more

Co-Trustee Conflict Fuels California Trust Litigation

by Downey Brand LLP on

California trust litigation often stems from disagreements and hostility among family member co-trustees. Rather than picking one of their kids to serve as sole successor trustee when they die or become incapacitated, Mom and...more

When Should I Get a Last Will and Testament?

by Reminger Co., LPA on

Lexis Nexis claims that 55% of American adults do not have a last will and testament or some kind of an estate plan. This means that more than half of American estates have their personal assets pass via intestacy - without a...more

Wealth Management Update - June 2017

by Proskauer Rose LLP on

June Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-family Loans and Split Interest Charitable Trusts - The June § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs...more

You Can’t Pick Your Facts

by Fox Rothschild LLP on

Clients can pick their own attorneys but they cannot pick their own facts. A recent case decided by Master Ayvazian highlights the difficulties that unfortunate facts can present. Creditors have eight months to file a...more

The Duty of Impartiality and Other Trustee Troubles

by Moskowitz LLP on

Trustees are accountable to both the current income beneficiaries and the remaindermen of a trust, and are often placed in the unenviable position of have to balance the interests of the two. A beneficiary may look forward to...more

Ohio’s New Laws Governing the Management of Digital Property After Death

by Reminger Co., LPA on

When Ohio House Bill 432 and Ohio Revised Code Chapter 2137 became effective on April 4, 2017, estate fiduciaries were given new tools for managing a decedent’s digital property....more

Recent Cases of Interest to Fiduciaries

by McGuireWoods LLP on

Kroll v. New York State Dept. of Health, 39 N.Y.S.3d 183 (Oct. 5, 2016); see also In re Kroll, 971 N.Y.S.2d 863, 865 (Sur. Ct. 2013) - Court approves “decanting” of a trust to effectively remove a beneficiary’s future...more

To Ensure a Successful Estate Plan, Take a Holistic Approach

by Fox Rothschild LLP on

The Delaware Supreme Court has just handed down a decision that dramatically illustrates the need to take a holistic approach to an estate plan to ensure that what you want to happen to your assets when you die, can and...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

T&E Litigation Newsletter- March 2017

by Goulston & Storrs PC on

This week has brought a much-anticipated decision by the Supreme Judicial Court regarding trust decanting, and the past month also brought the latest chapters in two cases that we reported on previously....more

Fiduciary Access To Digital Assets

by Pessin Katz Law, P.A. on

I don’t need to tell you that social media has become a mainstream way to communicate ideas, photos, and information. Even the President uses this technology as a prime form of expression. Have you considered what happens to...more

Jury Trials in Surrogate’s Court Removal Proceedings

by Farrell Fritz, P.C. on

As parties prepare for trial before the Surrogate’s Court, a question that oftentimes arises is whether the parties have a right to a trial by jury. The right to a jury trial is anything but universal in Surrogate’s Court...more

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