News & Analysis as of August 4, 2025

Beneficiaries

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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 -

Liam Payne’s Estate: What Happens Without a Will

Mandelbaum Barrett PC on 6/30/2025

Why estate planning matters—regardless of age or wealth - Many people believe estate planning is something to consider later in life, or only if they have significant assets. But the recent and tragic passing of Liam Payne,...more

Estate Planning for Families with Minor Children: Key Considerations and Strategies

Schwabe, Williamson & Wyatt PC on 2/18/2025

When minor children are addressed in an estate plan, special considerations are involved to ensure their well-being and financial security. Parents ought to make decisions about who they would prefer to serve as the guardian...more

What Happens When a Minor Child Receives an Inheritance in New Jersey?

Mandelbaum Barrett PC on 1/20/2025

Unintended consequences often occur without proper estate planning. This is common when minor children receive an inheritance. Since minors cannot possess assets directly, the inheritance must be held on behalf of the minor...more

When the guardian ad litem “representing” the yet-to-come-into-existence beneficiaries of a trust is nonfeasant or malfeasant

Charles E. Rounds, Jr. - Suffolk University... on 3/28/2024

Does a court-appointed GAL in a trust matter owe fiduciary duties to the parties to the trust relationship who have yet to come into existence, e.g., the settlor’s future great grandchildren (hereinafter the “non-existent...more

Pitfalls of Naming Minors as Beneficiaries

Holland & Hart LLP on 6/9/2021

It is natural for clients to want to name their children or grandchildren to receive their assets after their death However, the naming of a beneficiary directly on an account, especially if they are a minor, can derail an...more

Beneficiary Provisions and Designations – Plan Now for More Simplicity Later

Foley & Lardner LLP on 5/10/2019

Outside of death, beneficiary provisions and designations under qualified plans (see ERISA Section 3(8)) tend to receive little attention. Unfortunately, death may spotlight or uncover less desirable provisions and...more

10 Reasons to Create an Estate Plan Now

Chambliss, Bahner & Stophel, P.C. on 4/25/2019

Many people think that estate plans are for someone else, not them. They may rationalize that they are too young or don't have enough money to reap the tax benefits of a plan. But as the following list makes clear, estate...more

Estate Planning and Retirement Considerations for Late-in-Life Parents

Chambliss, Bahner & Stophel, P.C. on 2/5/2019

Older parents are becoming more common, driven in part by changing cultural mores and advances in infertility treatment. Comedian and author Steve Martin had his first child at age 67. Singer Billy Joel just welcomed his...more

Estate Planning for Young Families

McNees Wallace & Nurick LLC on 6/26/2015

Proper estate planning for young families is essential, despite often being overlooked by both clients and attorneys. Many young families view their estate as being “simple” because in their minds they “don’t have much,” and...more

Insight on Estate Planning - April/May 2013: Estate Planning Pitfall: You’ve named a minor as beneficiary of your life insurance...

Adler Pollock & Sheehan P.C. on 4/2/2013

A common estate planning mistake is to designate a minor as beneficiary — or contingent beneficiary — of a life insurance policy or retirement plan. This brief article discusses why it’s better to designate one or more trusts...more

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