News & Analysis as of

Trusts State Legislatures

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

95th Arkansas General Assembly House Bill Proposing Amendments to Petroleum Storage Tank Trust Fund (CORRECTION)

The post yesterday discussed proposed amendments to the Arkansas Petroleum Storage Tank Trust Fund...more

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

Out with the Old, in with the Updated – Arkansas Adopts the Uniform Fiduciary Income and Principal Act

Is it principal or it is income? This question has plagued trust beneficiaries, trustees, accountants, and attorneys since trusts have been used. The answer to the question is important, because the answer generally controls...more

Perkins Coie

Washington’s New 7% Capital Gains Tax Questions Answered

Perkins Coie on

The Washington Legislature passed Senate Bill 5096 on April 25, 2021, the last day of the 2021 Washington legislative session. SB 5096 is a state capital gains tax on individual residents of the State of Washington. The state...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

McDermott Will & Emery

Illinois Fiscal Year 2020 Income and Franchise Tax Changes

McDermott Will & Emery on

The Illinois General Assembly enacted a number of new tax measures in a flurry of activity at the end of its legislative session. Some of the changes are taxpayer friendly and others are not. Unlike the no-deal chaos of past...more

Farrell Fritz, P.C.

Wills, Trusts & Estates: Plain and Simple – What Happens to Social Media and Other Digital Life When You Die?

Farrell Fritz, P.C. on

Over the holidays, it’s likely that you or a loved one received some type of computer or device that connects to internet websites, email, and applications. Or that pictures were taken and stored on such a device, or that...more

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