News & Analysis as of

Family Businesses Beneficiaries

Saul Ewing LLP

Judge Denies Attempt to Modify Terms of Rupert Murdoch’s Irrevocable Trust

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Irrevocable trusts have long been a valuable arrow in the quiver of the high-net-worth estate planner. An irrevocable trust can provide tax advantages by minimizing estate taxes and preserving wealth for future generations....more

Levenfeld Pearlstein, LLC

Securing Your Legacy: Essential Estate and Succession Planning for Family Life Insurance Businesses

Experienced trusts and estates attorneys consistently observe how proper planning can mean the difference between a thriving legacy and a fragmented enterprise. For family-owned life insurance businesses, the stakes are...more

DarrowEverett LLP

Keeping It in the Family (Trust): Additional Considerations for Contributing S Corp Shares

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A large part of business sucession planning is structuring the transfer of business ownership. While outright transfers can be less complex, transferring ownership in trust can provide practical benefits that are worth...more

DarrowEverett LLP

Business Succession Planning: Pros and Cons of Passing S Corp Shares in Trust

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Business succession planning and estate planning are often linked together, particularly in the case of closely held family businesses. In the case of a shareholder who wishes to pass along their shares of an S corporation as...more

Katten Muchin Rosenman LLP

Evolving Estate Planning for Family Business Owners: Adapting to Life Stages and Growth

On April 30, 2025, Katten hosted Loyola University Chicago's Family Business Center for the "Family Business Through a Legal Lens" program. Private Wealth Partner Adam Damerow and Loyola University Chicago School of Law...more

Morris James LLP

Chancery Determines Manager Status and Rights of Feuding Relatives in Dispute Over New York Real Estate Empire

Morris James LLP on

Gurney-Goldman v. Goldman, C.A. No. 2023-1124-JTL (Del. Ch. July 12, 2024) - Four siblings inherited equal 25 percent interests in the New York real estate empire of their late father. Two of the siblings (“Allan” and...more

Robins Kaplan LLP

Q&A With Anne Paape, Managing Director and Senior Fiduciary Counsel at Cresset

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The Spotlight had the pleasure of sitting down with Anne Paape, managing director and senior fiduciary counsel at Cresset and Cresset Trust Company, to talk about the historic transfer of wealth many countries are undergoing,...more

Pullman & Comley, LLC

Legacy Planning for the Farm and Agriculture Community

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Farmers and their families face unique challenges when they are planning for the succession of their businesses and the real estate associated with their farms.  Oftentimes, farms are successively held and then given to...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

Gray Reed

Illegitimate Heirs – Trust Language: “Hi, I Think Your Dad is also My Dad” – Part 2

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Mary Goodblood grew up believing that she was the only daughter of Cash Goodblood. One day, 25 years after Cash died, and to no one’s surprise after the lucrative sale of the Goodblood family business was plastered on the...more

Winstead PC

Court Affirmed Order Granting Injunction To Allow Successor Trustees To Manage A Business Owned By A Trust

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In Clark v. Clark, two brothers sued a third brother regarding the third brother’s ability to be trustee of a trust due to a traumatic brain injury. No. 14-19-00604-CV, 2021 Tex. App. LEXIS 9866 (Tex. App.—Houston [14th...more

Conyers

A Practical Guide to Cayman Islands Star Trusts

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STAR Trusts are a form of trust that is exclusive to the Cayman Islands (Cayman), and which have a wide variety of practical applications. The unique features of a STAR Trust provide clients with structuring options that are...more

Rivkin Radler LLP

WILLS, TRUSTS & ESTATES: PLAIN & SIMPLE – Estate Planning And The Family Business: A Family Affair?

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Discussing your estate plan with your adult children can feel like a daunting task. You want your children to be ready for the responsibilities that wealth entails, but you’re not sure you’re ready to disclose your finances...more

Robins Kaplan LLP

[Webinar] Ripped from the Case Law - October 13th, 1:00 pm - 2:00 pm CT

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Producers, writers, and reporters have long been fascinated with high-stakes wealth, estate and trusts, and shareholder disputes. Whether tragic or comic, the drama between clients, families, business partners, as well as the...more

Robins Kaplan LLP

[Webinar] Panel: The Influence of News and Other Media on Client Expectations - October 1st, 1:00 pm - 2:00 pm CT

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Producers, writers, and reporters have long been fascinated with high-stakes wealth, estate and trusts, and shareholder disputes. Whether tragic or comic, the drama between clients, families, business partners, as well as the...more

Barnea Jaffa Lande & Co.

How to Arrange the Inheritances of Agricultural Farms

Many landowners in agricultural communities (moshavim) find themselves wondering about the future of the family farm once they have passed. Questions such as how can the estate be bequeathed, to whom, and what the parties who...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Arkansas Enacts a version of the Uniform Directed Trust Act: Relief for Corporate Trustees begins in 2020

In recent years it has become more common to grant multiple parties various powers over trust property within a trust. Of course there is still a trustee, owing the classic fiduciary duty to the beneficiaries, but now trusts...more

Winstead PC

Court Affirms Contempt Order Based On A Beneficiary’s Refusal To Produce Trust Documents, Holding That The Beneficiary Had A Right...

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In In re Topletz, the trial court ordered a party jailed for civil contempt for failing to comply with an order to produce documents from a family-run trust during post-judgment discovery in a suit against him individually...more

McDermott Will & Schulte

[Event] 2019 Private Client West Coast Forum – November 8th, Palo Alto, CA

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Please join us this November for McDermott Will & Emery’s Private Client West Coast Forum. At this complimentary program, experienced McDermott partners will lead discussions on a broad range of topics pertinent to ultra-high...more

McDermott Will & Schulte

[Event] 2019 Private Client West Coast Forum – November 7th, San Francisco, CA

Please join us this November for McDermott Will & Emery’s Private Client West Coast Forum. At this complimentary program, experienced McDermott partners will lead discussions on a broad range of topics pertinent to ultra-high...more

McDermott Will & Schulte

[Event] 2019 Private Client West Coast Forum – November 6th, Los Angeles, CA

Please join us this November for McDermott Will & Emery’s Private Client West Coast Forum. At this complimentary program, experienced McDermott partners will lead discussions on a broad range of topics pertinent to ultra-high...more

Ruder Ware

Farm Family Probate

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The family farm has always been unique from an estate-planning perspective. Unlike many traditional businesses, a farm business typically holds a disproportionate amount of illiquid assets such as real estate, equipment,...more

Ward and Smith, P.A.

Family Affair: Potential Problems with Family-Owned Businesses

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Some of the most heartbreaking situations we see in our closely-held business and estate practices are families torn apart over differences in dealing with family-owned businesses. When there are problems with...more

Harris Beach Murtha PLLC

Do You Have a Reasonable Expectation of Receiving Dividends if You Acquired Your Shares in a Family-Owned Corporation Through Gift...

Corporate shareholders often expect to receive dividends in connection with their ownership of corporate shares. This is particularly true when owners invest capital in or provide other services to the company in exchange for...more

Davis Wright Tremaine LLP

Washington’s New Trustee Delegation Law: Allowing Fiduciaries to More Easily Keep Businesses in the Family

If you are a family business owner in Washington who wants to place control of your business in the hands of a trustee until your beneficiaries are ready to assume control, or for other reasons, a recent change in Washington...more

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