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Estate Planning › Creditors

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... more +
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 -
Davidoff Hutcher & Citron LLP

Trusts as Asset Protection Tools for Restaurant Owners

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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

Saul Ewing LLP

The Florida Homestead

Saul Ewing LLP on

There are three aspects of the Florida Homestead law. One is the “save our homes” exemption. The save our homes exemption limits how much the value of the homestead can be increased from year to year for purposes of assessing...more

Davidoff Hutcher & Citron LLP

Why Restaurant Owners Need Asset Protection Strategies

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Running a restaurant comes with financial risks, including lawsuits, creditor claims, and unforeseen business downturns. Without proper asset protection strategies, restaurant owners may expose their personal wealth and...more

Mandelbaum Barrett PC

First Steps for Executors: What to Do When a Loved One Passes

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When a loved one passes away, the emotional toll of the loss can be compounded by the sudden responsibility of managing the deceased person’s estate—especially if you’ve been named as the executor under a Last Will and...more

Falcon Rappaport & Berkman LLP

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

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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...

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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

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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...

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

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...

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

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

Lippes Mathias LLP

Understanding the Role of an Estate Representative and Choosing the Right Individual for your Estate Plan

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Once you have taken the essential step in formulating your estate plan, you must name an executor of your Will. Whom should you designate for this significant role, and what is expected of them?...more

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

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

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

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

Flaster Greenberg PC

Why Should Your Art Collection Be Part of Your Estate And Tax Planning?

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Your carefully curated fine art collection is an important, and often emotionally charged part of your estate. If not specifically addressed in your will, or some other arrangement isn’t made, your important fine art falls...more

Husch Blackwell LLP

Options for Changing an Irrevocable Trust

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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

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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

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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

Downey Brand LLP

Blast from the Past – Trusts Subject to Medi-Cal Reimbursement

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We begin the year with a case, Riverside County Public Guardian v. Snukst (2022) ___ Cal.App.5th ___, involving an elder with dementia who received Medi-Cal benefits. The case, a blast from the past, illustrates how the...more

Chambliss, Bahner & Stophel, P.C.

Spendthrift Trusts: An Effective Strategy for Avoiding Spooky Pitfalls

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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

Rosenberg Martin Greenberg LLP

Maryland Court of Appeals: Change of Beneficiary of Insurance Policy Is “Conveyance” Under Uniform Fraudulent Conveyance Act

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In a March 9, 2021 opinion, the Maryland Court of Appeals signaled the end of what it termed “an elaborate web of procedural history” by answering two questions certified to it by the United States District Court for the...more

Cohen Seglias Pallas Greenhall & Furman PC

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

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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

Chambliss, Bahner & Stophel, P.C.

Special Ownership for Married Couples: Tenancy by the Entirety

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Married couples have a special way to jointly own property in some states that has advantages over regular joint ownership. If you are married and own property jointly, you should make sure you have the right form of...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...

Cohen Seglias Pallas Greenhall & Furman PC on

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

Downey Brand LLP

Beware of Dormant Creditor Claims in California Probate Cases

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California’s probate process aims to expeditiously identify and resolve the claims of creditors against decedents. Creditors who are unsophisticated, or who simply do not learn of the decedent’s passing, may find themselves...more

Harris Beach Murtha PLLC

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

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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

Harris Beach Murtha PLLC on

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

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