News & Analysis as of

Creditors Trusts Estate Planning

Davidoff Hutcher & Citron LLP

Trusts as Asset Protection Tools for Restaurant Owners

For restaurant owners, protecting business and personal assets from lawsuits, creditors, and financial risks is essential. One of the most effective legal strategies is using trusts to shield wealth and ensure long-term...more

Falcon Rappaport & Berkman LLP

The Process is the Punishment: The Hidden Benefit of Advance Asset Protection Planning

Over the past few decades much has been written about the benefits of engaging in asset protection planning to protect one’s legacy from future unknown, unforeseen lawsuits and other third-party claims. Antidotally, those of...more

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

Parsing the Uniform Trust Code in Isolation Without Regard to the Uniform Probate Code and the Uniform Powers of Appointment Act...

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

Cohen Seglias Pallas Greenhall & Furman PC

[Webinar] Guarding Your Legacy: What Celebrity Estate Disputes Can Teach Us - February 4th, 12:00 pm - 1:00 pm ET

Celebrity estate disputes often make for dramatic headlines, but the legal challenges they reveal can resonate far beyond the rich and famous. Join Whitney O’Reilly, chair of our Trust & Estates Group, for an insightful...more

Allen Barron, Inc.

Trust and Estate Planning for Business Owners

Allen Barron, Inc. on

Why is the end of the year a good time to consider trust and estate planning for business owners? Do you own real property or have other investments outside your business interests? Have you given any thought to what would...more

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

Equity’s maxims have many jurisprudential functions, one critical function being to sinew the equitable principles that regulate...

Equity’s maxims have many jurisprudential functions, one critical function being to sinew the equitable principles that regulate the law of trusts. A court that is saddled with sorting out the rights, duties and obligations...more

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

Whether an equitable power of appointment incident to a trust relationship is “in gross” or “collateral”: The practical...

Section 17.3, comment f, of the Restatement (Third) of Property (Wills and Other Donative Transfers) explains the difference between a collateral power of appointment and a power of appointment in gross: “In traditional...more

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

Husch Blackwell LLP

Options for Changing an Irrevocable Trust

Husch Blackwell LLP on

As its name implies, an irrevocable trust cannot be revoked by the person who establishes the trust. Typically, an irrevocable trust also cannot be changed by a trustee or beneficiary. The irrevocable nature makes the trust a...more

Bowditch & Dewey

Beyond Taxes: 10 Important Reasons Why Everyone Needs an Estate Plan

Bowditch & Dewey on

People often assume that if their estate isn’t taxable, they don’t need to have an estate plan. In 2023, a Massachusetts estate tax return must be filed if the value of the deceased person’s gross estate exceeds $1 million. A...more

Lippes Mathias LLP

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

Lippes Mathias LLP on

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

Chambliss, Bahner & Stophel, P.C.

Spendthrift Trusts: An Effective Strategy for Avoiding Spooky Pitfalls

As we prepare for the Halloween season, there are many reasons to be on edge. These fears may involve ghosts and goblins for some, while others may view estate planning as frightening. Although I have yet to find an effective...more

Cohen Seglias Pallas Greenhall & Furman PC

Asset Protection 101: Are You and Your Family Protected from Litigation, Creditors, and Divorce?

Presented by Cohen Seglias Attorneys Brian Lawton and Whitney Patience O'Reilly on January 23, 2020. It can take years to accumulate assets and increase the value of your business and investments. Unfortunately, without an...more

Cohen Seglias Pallas Greenhall & Furman PC

[Webinar] Asset Protection 101: Are You and Your Family Protected from Litigation, Creditors, and Divorce? - January 23rd, 12:00...

It can take years to accumulate assets and increase the value of your business and investments. Unfortunately, without an asset protection plan, you could lose everything or a significant portion of what you have worked so...more

Harris Beach Murtha PLLC

Asset Protection Trusts: “Everybody Gets a DAPT!” (even those outside Connecticut)

In a previous newsletter, we recently heralded the passage of the “Connecticut Qualified Dispositions in Trust Act”, which permits the creation and establishment of self-settled domestic asset protection trusts (“DAPTs”). To...more

Harris Beach Murtha PLLC

Asset Protection Trusts: Connecticut Makes History by Enacting a Domestic Asset Protection Trust Law

At the tail end of the legislative session, the Connecticut General Assembly enacted historic and sweeping trust legislation including the Uniform Trust Code and Directed Trust Act, and extended the rule against perpetuities...more

McGuireWoods LLP

Indiana Enacts Self-Settled Asset Protection Trust Legislation

McGuireWoods LLP on

On April 9, 2019, the Indiana Legislature enacted S.B. 265 to amend the Indiana Code concerning trusts and fiduciaries. The Indiana governor signed the act May 5. One important provision of the act was the addition of a new...more

McGuireWoods LLP

Recent Cases of Interest to Fiduciaries

McGuireWoods LLP on

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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