News & Analysis as of

Trustees Reporting Requirements Beneficiaries

Gordon Rees Scully Mansukhani

Virginia’s Often Overlooked Accelerated Statute of Limitations in Breach of Trust Claims

Under Virginia law, when a party is considering filing a lawsuit, the most important thing to consider is whether or not the cause of action that is the basis for the lawsuit is time-barred. This is determined by the...more

Saul Ewing LLP

What Trustees Need to Know About the Corporate Transparency Act

Saul Ewing LLP on

According to the introductory paragraph of the guidelines issued by the Financial Crimes Enforcement Network (“FinCEN”) of the United States Treasury, “[i]llicit actors frequently use corporate structures such as shell and...more

Farella Braun + Martel LLP

John Wick - What You Need To Know about the Corporate Transparency Act

Welcome to The Verdict: Estate Planning Through Film. In episode two, host Hons Yung is joined by Farella Braun + Martel's Greg LeSaint to discuss the movie John Wick and the Corporate Transparency Act (CTA). Greg breaks...more

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

The federal Corporate Transparency Act (CTA), whose constitutionality is currently being tested in the courts, creates another...

The federal Corporate Transparency Act (CTA), effective January 1, 2024, whose constitutionality is currently being tested in the courts, follows in the footsteps of the IRC in that it creates a limited statutory exception...more

Pullman & Comley, LLC

The Corporate Transparency Act and its Application to Estates and Trusts: Answers to Frequently Asked Questions

Pullman & Comley, LLC on

The recently implemented Corporate Transparency Act (the “CTA”) requires that certain entities report information about themselves and their “beneficial ownership” to the Financial Crimes Enforcement Network of the United...more

Akin Gump Strauss Hauer & Feld LLP

New Guidance on the Subsidiary Exemption Under the CTA’s Beneficial Ownership Information Reporting Rule

In the two weeks since the Corporate Transparency Act (CTA) went into effect (see our alert here), the Financial Crimes Enforcement Network (FinCEN) has published several Frequently Asked Questions (FAQs) clarifying the new...more

Holland & Knight LLP

Supreme Court declares Mexico's controlling beneficiary reform constitutional

Holland & Knight LLP on

The Second Section of the Mexican Supreme Court of Justice (SCJN) on June 14, 2023, ruled that it is constitutional for the Tax Administration Service (SAT) to request from taxpayers information related to their controlling...more

Winstead PC

Corporate Trustee’s Statements May Suffice For A Statutory Accounting

Winstead PC on

Trust beneficiaries often request a corporate trustee to prepare a statutory accounting. The Texas Trust Code in Section 113.151 provides that a beneficiary may request a written statement of accounts....more

Winstead PC

Presentation: Trustee Quandary – Criminal Activity by a Beneficiary With or On Trust Property

Winstead PC on

David F. Johnson presented his paper “Trustee Quandary: Criminal Activity By a Beneficiary With or On Trust Property,” to the Tarrant County Probate Bar Association on March 5, 2020. The presentation dealt with a trustee...more

Chambliss, Bahner & Stophel, P.C.

A Brief Overview of a Trustee's Duties

If you have been appointed the trustee of a trust, it is a strong vote of confidence in your judgment and trustworthiness. It is also a major responsibility. A trust is a legal arrangement through which one person (or an...more

Winstead PC

[Webinar] Financial Services Webinar - Trustee Quandary: Criminal Acts By Beneficiaries With Or On Trust Property - June 25th,...

Winstead PC on

With rising drug abuse issues, it is not uncommon for a beneficiary of a trust to commit criminal activities on or with trust property. This webinar will provide suggestions for trustees in this situation and address several...more

Lathrop GPM

Top 10 Tips for the Professional Fiduciary to Avoid Litigation

Lathrop GPM on

Communication is Key. This may seem obvious, but good communication can go a long way in preventing a dispute. This includes timely responding to emails and voice messages...more

Holland & Hart LLP

Prudently Investing: What Trustees Need to Know

Holland & Hart LLP on

Acting in the best interests of the trust and the trust beneficiaries, a trustee has the duty to protect and preserve trust assets and, generally, to make the assets productive. In making investment decisions and managing...more

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