3 Key Takeaways | Update on Chicagoland Local Taxes
Let's Talk About the Anatomy of a Prenuptial Agreement
Advancing Agriculture: Security Interests and Article 9 Challenges (Part 2)
When purchasing an expensive engagement ring, one would not seek the expertise of a real estate agent. Similarly, when an estate requires an appraisal, it is crucial to engage the appropriate expert for high value personal...more
Intro. The Uniform Trust Code (UTC) is a mere aggregation of tweaks to the corner of equity jurisprudence that long ago gave birth to and currently stewards the trust relationship, hereinafter “the background trust law.”...more
Assume the deceased settlor of a trust had intended that his niece be included in the beneficiary class, but his estate-planning attorney had negligently made no provision for her in the governing instrument. After settlor’s...more
The Chambliss estate planning team often helps families navigate the complexities of administering a loved one’s estate. Challenges can arise in addressing the personal property in the estate...more
Assets with significant monetary value like real estate, stocks, and retirement accounts are the key points most people consider when creating an estate plan. But what about your possessions?...more
In South Carolina, there's a new law that lets you add a "Transfer on Death" (TOD) designation to the title of personal property like cars, boats, or mobile homes. This means you can name someone to automatically receive the...more
When wedding bells are ringing, the last thing most couples want to think about is the possibility of death or divorce. However, for those entering long-term relationships or preparing for marriage, prenuptial agreements can...more
Prenuptial agreements are not just for celebrities, but the messiness that follows a celebrity divorce filing often puts prenuptial agreements in the spotlight. Here are five reasons why Ben Affleck and Jennifer Lopez (J-Lo)...more
The case for couples to get (or at least strongly consider) a prenuptial agreement is simple: it is much easier to get into a marriage than it is to get out of one. ...more
In 2022, New Jersey enacted a new law to simplify the process for vehicle owners to transfer vehicles at death. N.J.S.A. 39:3-30.1b, which became effective on May 9, 2023, authorizes the owner of a car, camper, or motorcycle...more
A new Minnesota law comes into effect on August 1, 2024, which flags the importance of addressing insurance coverage within your estate plan, especially if your plan utilizes transfer on death deeds. A transfer on death deed...more
Prenuptial agreements (or “Prenups” as they tend to be referred to colloquially) tend to have an unfair reputation as a societal matter. Indeed, it’s not uncommon for critics of prenuptial agreements to view them as the most...more
When considering an estate plan, clients who own firearms should remember that very often, their firearms require special consideration and planning, particularly given the intricacies of federal, state, and local gun laws...more
Axios published an article this week about what it terms the “growing acceptance” of prenuptial agreements. The sum of the article is based on a Harris poll reporting that 50% of those interviewed support the idea of couples...more
I am often asked about the difference between wills and revocable trusts, so I thought it important to explain the purpose of each. Wills and revocable trusts basically do the same thing – each is a document in which you...more
We often see siblings litigate in California over the allocation of tangible personal property held in the family trust. When Mom and Dad have passed, the tug of war may involve jewelry, paintings, photos, firearms,...more
In In re Mittelsted, a trial court held a former executor in contempt for over twenty acts of commingling personal property with estate property and ordered that the executor pay over $200,000 to avoid contempt. No....more
A deceased individual (i.e., the decedent) has often taken the initiative during his or her lifetime to create a will designating the individuals who will receive the decedent’s remaining assets. However, the decedent may...more
Digital assets, such as cryptocurrency, are becoming a larger component of investors’ portfolios. More and more people are owning some form of cryptocurrency....more
Even if you've created an estate plan, are you sure you included everything you need to? There are certain provisions that people often forget to put in a will or estate plan that can have a big impact on a family....more
The services following the death of Her Majesty Queen Elizabeth II might have many of us thinking about our own estate planning. One striking piece of information about Her Majesty was that she had planned out many...more
In In re Estate of Wetzel, a widow and independent administrator of her husband’s estate appealed a trial court’s order denying her requested family allowance. No. 05-20-01104-CV, 2022 Tex. App. LEXIS 2618 (Tex. App.—Dallas...more
Cryptocurrencies are becoming a larger component of investors' portfolios, especially for millennials and Generation Z, who collectively make up 94 percent of cryptocurrency buyers. While it may seemingly be too early for...more
Under a Last Will and Testament, a decedent disposes of both their tangible personal property as well as their intangible personal property. Questions might arise in the context of administering an Estate, however, as to...more
When it comes to handling your loved one’s estate, the executor has a series of important duties and responsibilities. If you suspect an executor is mishandling their responsibilities or mismanaging estate assets, you can...more