News & Analysis as of

Trusts Minors

Mandelbaum Barrett PC

Liam Payne’s Estate: What Happens Without a Will

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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

Schwabe, Williamson & Wyatt PC

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

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

Mandelbaum Barrett PC

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

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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

Holland & Knight LLP

Tennessee Trust Bill Takes Effect and Makes Important Changes to the State's Trust Laws

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Tennessee Gov. Bill Lee approved Public Chapter No. 695 on April 11, 2024, as passed by the Tennessee General Assembly (Trust Bill). The new law became effective on July 1, 2024, and it made several important changes to...more

Lippes Mathias LLP

Testamentary Guardianship: Safeguarding Your Child's Future Through Estate Planning

Lippes Mathias LLP on

Guardians are a type of fiduciary appointed for a minor child or individual determined incapacitated by the courts. When appointed by a Last Will and Testament (“Will”), they are commonly known as testamentary guardians....more

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

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

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

Holland & Hart LLP

Pitfalls of Naming Minors as Beneficiaries

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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

Burr & Forman

FINRA and UTMA/UTGA Accounts: Know Your Customer, and Continue to Monitor

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Firms permitting the creation and operation of custodial accounts related to Uniform Transfers to Minors Act (UTMA) or Uniform Gifts to Minors Act (UGMA) transactions must take special notice of Financial Industry Regulatory...more

Tarter Krinsky & Drogin LLP

What You Need To Know About Giving Annual Gifts To Children And Grandchildren

Many of our clients like to make annual gifts to their children and grandchildren. Such gifts may be subject to a gift tax (to be paid by the donor,) however, federal law offers certain exceptions that can help gift givers...more

Chambliss, Bahner & Stophel, P.C.

10 Reasons to Create an Estate Plan Now

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

Burr & Forman

The South Carolina Uniform Gifts to Minors Act: Past, Present and Future?

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This blog is intended to highlight certain aspects of the South Carolina Uniform Gift to Minors Act (the “SCUGMA”), which is found in Article 5 of Chapter 5 of Title 63 (the Children’s Code) of the South Carolina Code of...more

Winstead PC

Court Affirms Ruling That Adopted Adult Children Were Beneficiaries Of A Trust

Winstead PC on

In Andresakis v. Modisett, the trustors signed trust agreements in 1976 and 1981, and each agreement created three trusts, one for their daughter, one for their son, and a third trust for their only grandchild, Andresakis....more

Bond Schoeneck & King PLLC

Trust and Estate: Changes made to the Florida Uniform Transfers to Minors Act

Every spring, the Florida legislature meets in regular session, and seemingly in every session significant changes are made to Florida’s trust and estate laws. Once again in 2015 changes were made to the Florida Uniform...more

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