News & Analysis as of

Trusts Wills

Look! Up in the Sky! It’s Sibling Lawyer!

by Downey Brand LLP on

I’m a sibling lawyer. My career started early, as a middle child, and now continues as a Sacramento-based trust and estate litigation attorney. Most of my clients are grappling with sisters or brothers over the care and...more

Avoid An Unpleasant Surprise: Review Your Will Regularly

by Fox Rothschild LLP on

Many people sign a will and assume they never need to look at it again. As lawyers, we prepare wills that are flexible and deal with multiple possible (even if unlikely) scenarios, but sometimes an unanticipated change and an...more

Who Can Bring Forth a Challenge

by Moskowitz LLP on

Following Richard Pratt’s death in 2009, Madison Ashton claimed that she had left her profession as a sex worker to become the Australian billionaire’s kept mistress. Pratt had apparently promised the former Penthouse Pet a...more

Estate planning during divorce: It’s never too early to start

by Thompson Coburn LLP on

Estate plans prepared for married couples will vary in complexity and detail but generally follow the same theme: The revocable trust or will typically provides that upon the death of the first spouse, the surviving spouse...more

Are You Considering A Revocable Living Trust?

The revocable living trust is often advertised as a “must have” part of your estate plan. While a revocable living trust may be useful in some situations, it is not an estate planning cure all. The following are issues to...more

Discretionary Trust Beneficiary Had No Standing to Challenge Adoption [Florida]

by Charles (Chuck) Rubin on

Since many estates and trusts define beneficiaries by description (e.g., “child” or “lineal descendant”) and it is a natural propensity for persons to gift or leave property to lineal descendants, the adoption of an...more

Should You Create Trusts for Your Kids?

by Farrell Fritz, P.C. on

If your children are under age eighteen, you should have trusts for them in your Wills, in the event you and your spouse should die before all your children reach age 18. If minors receive assets prior to reaching age...more

How to protect your family-owned business from your child’s spouse

by Thompson Coburn LLP on

For most people, a child’s wedding is one of those great life moments that is filled with months of planning and excitement. However, for people who own a family-owned business, the old myth that 50 percent of marriages end...more

Getting Your House in Order: Estate Planning is for Everyone

A recent survey found that nearly 50% of individuals with children do not have a Will and over 40% of individuals over the age of 55 do not have one. Whether a person is 18 or 98 with net assets of $200,000 or $20 million,...more

Insight on Estate Planning - February/March 2017

In This Issue: - Stretch out estate tax on business interests - Maintaining family harmony: Balance beneficiaries’ needs with a total return unitrust - Is a donor-advised fund right for you? - Estate planning...more

Lessons to be Learned From the Power of Attorney

by Farrell Fritz, P.C. on

Powers of attorney and trust instruments have each been the subject of many an estate plan. They each have also been the subject of multiple estate litigations. In combination, the two have served as fodder for controversies...more

A Guide To: How to Challenge a Will in Michigan

by Clark Hill PLC on

The vast majority of people who pass away leave behind property to their family, friends, and loved ones. Although there are a number of options available to an individual when planning for the disposition of his or her...more

Some Not So Obvious Reasons to Have a Will

by Pessin Katz Law, P.A. on

Many times I have heard the following questions from prospective clients: “If my things will pass to my spouse and children automatically, why do I need a Will?” or “My estate is not large enough to be subject to estate...more

What You Should Know About Determining Capacity in Ohio

by Reminger Co., LPA on

One definition of “capacity” refers to the maximum amount/number that something can contain (e.g., a freezer’s capacity is 1.1 cubic feet; the capacity of a public room is 140 people). “Capacity” also describes an ability to...more

Law Passed Amending NPCL

Over the summer, we posted about Bill No. A. 10365B/S. 7913, containing amendments to the New York Not-for-Profit Corporation Law (the “NPCL”) and the New York Estates, Powers and Trusts Law (the “EPTL”) here. After...more

Wealth Management Update - September 2016

by Proskauer Rose LLP on

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

Insight on Estate Planning - August/September 2016

In This Issue: - Alternate valuation date: Flexible postmortem planning a plus when markets are volatile - The write stuff: A letter of instructions - Making the most of your GST tax exemption - Estate...more

How Non-Probate Assets Can Affect Your Estate Plan: A Few Cautionary Tales

by Ward and Smith, P.A. on

When you think about the control of your possessions and assets after your death, you probably think of a Will and probate. A Will is a written, legally enforceable declaration that states how you wish your assets to be...more

Trial & Heirs: 5 Estate Planning Stumbling Blocks

by Gray Reed & McGraw on

Last month, Prince died at the ripe young age of 57. He had no will, as reported by his only full sibling (a sister). She filed for probate of his estate in Minnesota, where he owned a home in Paisley Park. Under Minnesota...more

Planning for the $5-$10 Million Couple: Portability or Credit Shelter?

by Butler Snow LLP on

In 2009, each individual had a $3.5 million estate tax exemption. If a married individual had assets over $3.5 million, without careful planning, those assets in excess of $3.5 million would fall subject to a 45% estate tax....more

Four Lessons Learned from Prince’s Estate (So Far)

Several of the events surrounding the initial administration of Prince’s estate provide lessons applicable to all estate plans, not just celebrity estate plans. If You Don’t Have an Estate Plan, the State Will Write...more

Recent Changes in Testamentary Capacity Rules

by JAMS on

Estate planners and litigators face new challenges in light of recent developments in case law and statutory changes affecting the law of testamentary capacity. Gone are the simple rules that estate planners have used for...more

Trusts and Estates Group News: Estate Planning Enters the Digital Age

by Murtha Cullina on

One reality of modern life is our increasing reliance on digital information and services. It’s difficult to take and then order prints of photographs, accumulate travel rewards, book travel, sort through financial records,...more

Recent Changes in Estate Planning Laws May be Cause for Review of Your Estate Plan

by Dickinson Wright on

Recent change in tax laws have many people rethinking their estate plans. Also, changes in the normal course of life make it a good idea for persons with estates that range from small to large to review wills, trusts, powers...more

Prince: Is His Legacy Really Untold?

by Bryan Cave on

As we’ve all seen in the news, musician Prince passed away on April 21, 2016 at the age of 57. According to news sources, on April 26, just five days later, one of Prince’s six siblings, his sister Tyka Nelson, filed...more

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