Episode 9: Optimizing Value in a Marital Business Divorce: Interview with Ladd Hirsch
When hostilities break out between individual co-trustees, incumbent trust counsel faces a representation conundrum. In §8.8 of Loring and Rounds: A Trustee’s Handbook (2025), see appendix below, we grapple with the...more
Many co-owners of closely held businesses will employ life insurance as a tool for funding the transfer of ownership in the business upon the death or retirement of an owner. In these cases, planning involves the use of...more
Individuals are often interested in ways to transfer their assets at death without having those assets go through a probate proceeding. Those same individuals are also often interested in accomplishing this without having to...more
There are two ways in which your assets pass upon your death: (1) by operation of law to designated beneficiaries (IRA, life Insurance, etc.), pursuant to an agreement (a living trust agreement) or as joint owners with rights...more
As the family gathers at the summer cottage or vacation property each season, the senior generation might think about how nice it would be for these multi-generational gatherings to continue for years to come....more
As the family gathers at the summer cottage or vacation property each season, the senior generation might think how nice it would be for these multi-generational gatherings to continue after they pass from the scene. And to...more
In our busy practice, we tend to see certain recurring errors. In particular, we see planning errors that arise during the estate administration process after someone dies. Below are a few of these common errors, and, in the...more
Many people, especially seniors, see joint ownership as an easy way to avoid probate and plan for incapacity, but there are major drawbacks to joint accounts. When people own property as joint tenants each person has an...more
When you die, your debts do not expire with you. Most debt still needs to be paid off, if possible. However, who is responsible for paying the debt depends on the type of debt, and some assets are protected from being used...more