News & Analysis as of September 23, 2024

Trust Assets

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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 -

Time to Step Up? Florida’s Community Property Trust Act Worth A Look

DarrowEverett LLP on 12/27/2023

Unknown to many Floridians, Florida enacted the Community Property Trust Act which went into effect on July 1, 2021, and established the ability to convert non-community property into community property. The community...more

Minnesota Court of Appeals Rules Power of Attorney Insufficient to Amend Revocable Trust

Lathrop GPM on 2/9/2023

On January 30, 2023, the Minnesota Court of Appeals issued an opinion in In re Eva Marie Hanson Living Trust addressing the ability of an attorney-in-fact to amend a revocable trust on behalf of an incapacitated trust...more

Hiring Counsel for Estate and Trust Administration Could Help You Avoid an Expensive Conflict

Lippes Mathias LLP on 10/21/2022

Losing a family member or friend is a difficult situation for everyone. In 1969, the Swiss-American psychiatrist Elizabeth Kübler-Ross wrote in her book “On Death and Dying,” that grief could be divided into five stages:...more

[Webinar] Financial Services - Trust Issues In Divorce Proceedings - May 24th, 10:00 am - 11:00 am CT

Winstead PC on 4/21/2022

This presentation covers trust issues that arise in divorce disputes, such as spouses creating an irrevocable trust, fraud claims to void a trust, conflict of interest issues raised by the same attorney drafting both spouse’s...more

Enactment of FUDTA and CPTA Change the Rules on Florida Trusts

Bilzin Sumberg on 7/1/2021

On June 29, 2021, Florida enacted the Florida Uniform Directed Trust Act ("FUDTA") and the Community Property Trust Act ("CPTA"). Florida will now have a more robust law whereby “trust directors” can be granted powers in a...more

Administering A Trust In A Recession: Securing Loans For Beneficiaries

Winstead PC on 5/22/2020

Beneficiaries often request that a trustee secure a loan from a third party. In an economic downturn, such requests are even more prevalent. As a general rule, a trustee should not want to do so as it should assume that the...more

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