News & Analysis as of

Spendthrift Trusts Trustees

Charles E. Rounds, Jr. - Suffolk University...

Creating a nonvoidable domestic asset protection trust (DAPT) that has multijurisdictional contacts: The state and federal...

Creating a domestic asset protection trust (DAPT) that both has multijurisdictional contacts and is nonvoidable in whole or in part is easier said than done. There are the state conflict-of-laws issues, a few of which I...more

Charles E. Rounds, Jr. - Suffolk University...

When the parties to a trust relationship, as well as its subject property, are located in different states, which state’s law...

Consider the following situation. Settlor owns a thousand acres of land in a domestic-asset- protection haven (DAPT state). While he is alive, he transfers in trust the land to a corporate trustee that does business...more

Mandelbaum Barrett PC

Do You Need a Spendthrift Trust?

Mandelbaum Barrett PC on

The aging population is expected to transfer $30 trillion in the coming years, per Forbes. According to the Survey of Consumer Finances, the median inheritance is $69,000; the median for trust fund wealth transfers is...more

Downey Brand LLP

No Bad Faith Required – Trustee of Spendthrift Trust May Be Compelled to Pay Attorney Fees Under Family Code Section 2030

Downey Brand LLP on

Section 2030 of California’s Family Code provides an important safeguard to ensure the fairness of marriage dissolution proceedings. It allows the Court to order a more financially well-off party to pay some or all of the...more

Winstead PC

Court Reverses Turnover Order That Disregarded A Trust Where The Trustee Was Not A Party To The Proceeding

Winstead PC on

In Tomlinson v. Khoury, a judgment creditor discovered that the judgment debtor was the trustee and beneficiary of a spendthrift trust and brought a turnover action to invalidate the trust. No. 01-19-00183-CV, 2020 Tex. App....more

Katten Muchin Rosenman LLP

2017 Year-End Estate Planning Advisory

The fourth quarter of 2017 concludes a unique year in the planning arena. With the new administration and a Republican-led Congress in power, both taxpayers and tax professionals have kept a close eye on the potential for tax...more

Adler Pollock & Sheehan P.C.

Would a spendthrift trust help achieve your estate planning goals?

A person doesn’t have to hold onto assets until the day he or she dies with the hope that heirs will change their ways by that time. Instead, consider using a spendthrift trust that can provide protection, regardless of how...more

Goulston & Storrs PC

T&E Litigation Newsletter- August 2016

Goulston & Storrs PC on

On August 4, 2016, the Supreme Judicial Court issued its highly anticipated decision in Pfannenstiehl v. Pfannenstiehl, 2016 Mass. LEXIS 591, reversing an Appeals Court decision that had been a hot topic of discussion among...more

Goulston & Storrs PC

T&E Litigation Newsletter- 9/3/15

Goulston & Storrs PC on

Massachusetts courts have issued decisions on several topics of interest, including whether a revocable spendthrift trust may properly be included in a marital estate, what happens to assets left to a named beneficiary who...more

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