News & Analysis as of September 19, 2024

Trusts

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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 -

Wealth Management Update - September 2024

Proskauer Rose LLP on 9/6/2024

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

Texas Supreme Court Affirms The Release In A Family Settlement Agreement That Protected A Former Trustee’s Estate From Claims And...

Winstead PC on 3/27/2023

In Austin Trust Co. v. Houren, beneficiaries of a trust executed a family settlement agreement with the former trustee’s estate. No. 21-0355, 2023 Tex. LEXIS 285 (Tex. March 23, 2023)....more

Who Protects the Interests of Children in Trust Disputes?

Downey Brand LLP on 5/16/2022

California trust disputes often involve the interests of parents and their minor children. Sometimes those interests conflict. When disputes are settled, who looks out for the interests of children under 18 years of age? Who...more

Releases and Family Settlement Agreements in Trust & Estate Litigation

Freeman Law on 12/15/2021

A settlement agreement can be beneficial to all parties – it may help reduce litigation costs, facilitate dispute resolution, or guide the parties to a common understanding. However, settlement agreements do not come without...more

Court Holds That Trust Owned Mineral Interests And Not The Settlor’s Wife

Winstead PC on 10/25/2021

In Moore v. Estate of Moore, a decedent’s wife claimed that she had an interest in an oil and gas lease formerly owned by her deceased husband. No. 07-20-00019-CV, 2021 Tex. App. LEXIS 6142 (Tex. App.—Amarillo July 30, 2021,...more

Court Upheld A Release In A Family Settlement Agreement That Protected A Former Trustee’s Estate From Claims

Winstead PC on 6/17/2021

In Austin Trust Co. v. Houren, beneficiaries of a trust executed a family settlement agreement with the trustee and the former trustee’s estate. No. 14-19-00387-CV, 2021 Tex. App. LEXIS 1955 (Tex. App.—Houston March 16, 2021,...more

Court Reversed Jury Trial And Determined That Settlement Agreement Dividing Real Property Owned By Trusts Was Not Ambiguous

Winstead PC on 2/16/2021

In Maxey v. Maxey, in a dispute that arose from the probate of an estate, two sisters mediated and reached a settlement agreement concerning the division of certain real property. No. 01-19-00078-CV, 2020 Tex. App. LEXIS...more

Your Slice of the Pizza – Only Directly Inherited Asset Qualifies as Separate Property

Downey Brand LLP on 11/26/2019

It is widely understood in California that inherited assets, unlike assets earned from labor, are the separate property of the receiving spouse. But what if the assets do not come directly from a parent and instead pass from...more

Recent Cases of Interest to Fiduciaries

McGuireWoods LLP on 8/1/2015

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

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