News & Analysis as of

Trusts Creditors Beneficiaries

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...

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

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

Carey Olsen

Building bridges, not barriers: setting up Cayman trusts to minimise conflicts

Carey Olsen on

Despite best intentions, it is impossible to entirely negate the risk of conflict arising from a family trust. By their nature, trusts tend to span several decades and "futureproofing" them against societal changes,...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...

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...

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

Pillsbury Winthrop Shaw Pittman LLP

Use It or Lose It! Indemnification Rights May Not Be Asserted against a Post-Confirmation Liquidation Trust

The Fifth Circuit recently held that claims and defenses arising from an indemnification agreement with a debtor could not be asserted against a liquidation trust because the chapter 11 plan barred those claims and defenses,...more

Husch Blackwell LLP

Options for Changing an Irrevocable Trust

Husch Blackwell LLP on

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

Bowditch & Dewey on

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

Lippes Mathias LLP on

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

Fox Rothschild LLP

Israeli Tax Authority Imposes ‘Capital Declaration’ Reporting Requirement On Trusts

Fox Rothschild LLP on

For the first time since Israel began taxing trusts, the Israeli Tax Authority (ITA) has sent inquiries to some trusts seeking a declaration of worldwide assets and liabilities as of December 31, 2019. We have heard that this...more

Farrell Fritz, P.C.

Liquidating Trusts, Reopening The Economy, And Creditors’ Rights

Farrell Fritz, P.C. on

Bad Times- Of course, you’ve noticed that we’re in the midst of an economic mess. The nearly complete shutdown of large segments of the U.S. economy beginning in March, in response to the COVID-19 crisis, both accelerated...more

Cohen Seglias Pallas Greenhall & Furman PC

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

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

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...

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

Flaster Greenberg PC

Inconsistent Rulings Should Cause an IRA Beneficiary to Consider Alternative Inheritance Methods

Flaster Greenberg PC on

Despite the differing treatment of inherited IRAs under Federal, New York, and New Jersey law, clients may be best served to inherit IRAs in trusts or other asset protection vehicles rather than outright so as to provide an...more

Dickinson Wright

Michigan’s Legislature Passes Significant Laws During the Last Days of 2016

Dickinson Wright on

In late 2016, Michigan lawmakers passed a good deal of new legislation. One of the laws, the Qualified Dispositions in Trusts Act, enables an individual (the “settlor”) to create a trust that, in certain circumstances, can...more

Akerman LLP

Nevis Modernizes its Trust Laws to Become Even More Competitive

Akerman LLP on

As a jurisdiction, Nevis is highly regarded as setting the standard among offshore trust laws, blazing new trails in this is area since 1994 with other jurisdictions attempting to play catch-up. Over time, other jurisdictions...more

McGuireWoods LLP

Recent Cases of Interest to Fiduciaries

McGuireWoods LLP on

In re Estate of House, 2014 Wash. App. LEXIS 3006 (Wash. Ct. App. 2014) - A release waiving any and all claims that the parties may have or may acquire, bars recovery for unknown claims existing at the time the release...more

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