News & Analysis as of

Trusts Surviving Spouse

Chambliss, Bahner & Stophel, P.C.

Estate Planning for Blended Families: Key Considerations to Protect Your Loved Ones

We all remember “The Brady Bunch” — the picture-perfect story of two families seamlessly coming together under one roof, complete with a catchy theme, and every conflict resolved neatly in 22 minutes. But in reality, blending...more

Fox Rothschild LLP

More on the Intersection of Family Law, Estate Law and Federal Law

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In November of 2023, I did a post on this blog titled The Intersection of Family Law, Estate Law and Federal Law, regarding the reported Appellate Division case In the Matter of Michael D. Jones, Deceased. That case dealt...more

Lowndes

Start 2025 Right: Update Your Estate Plan with a Preneed Guardianship Designation

Lowndes on

It is the start of a new year which means that it is a great time to update or refresh your estate plan. In Florida, planning for the future is a crucial step to ensure that your wishes are honored, and your loved ones are...more

The Estate Lawyers

Divorce Need Not Ignite Estate Litigation, But Too Often It Does

The Estate Lawyers on

Certain life events demand that estate planners work with client testators to adjust their estate plans. Divorce and remarriage are at the top of that list. When matrimony devolves into acrimony – setting the stage for...more

ArentFox Schiff

A Tale of Two Recent QTIP Trust Termination Cases — Anenberg and McDougall

ArentFox Schiff on

Through the years, the US Tax Court has provided significant clarification on the gift tax consequences of terminating qualified terminable interest property (QTIP) trusts. Two new cases in 2024, Estate of Sally J. Anenberg...more

Husch Blackwell LLP

Planning for Retirement Benefits Post-Secure Act

Husch Blackwell LLP on

On July 18, 2024, the Internal Revenue Service (IRS) issued final regulations updating the required minimum distribution (RMD) rules. The final regulations reflect changes made by the Setting Every Community Up for Retirement...more

Bowditch & Dewey

Key Estate Planning Adjustments to Make After Your Spouse Passes Away

Bowditch & Dewey on

The period after a spouse passes away is an emotional time of mourning. However, there are a handful of estate planning adjustments that you should make to protect your estate under the new conditions....more

Rivkin Radler LLP

Disclaiming to Save Taxes

Rivkin Radler LLP on

It’s not enough for the founder of a closely held business to have successfully established the business. The business has to grow, not only to increase profits, but also to make it more competitive and to diversify its...more

Fox Rothschild LLP

Senator Feinstein Alleges that the Trust Meant to Protect Her Has Become “Untrustworthy.”

Fox Rothschild LLP on

Back on July 26 we wrote about how trusts have become a new territory within the divorce landscape. At the time the press was just starting to write about California Senator Diane Feinstein’s troubles with the trust her...more

Winstead PC

Court Affirmed Temporary Injunction Precluding A Surviving Spouse From Acting As Trustee Of A Trust

Winstead PC on

In Kirkland v. Kirkland, a husband and wife created a revocable trust. No. 02-22-00469-CV, 2023 Tex. App. LEXIS 3598 (Tex. App.—Fort Worth May 25, 2023, no pet. history)....more

Rivkin Radler LLP

Transferee Liability for Estate Tax: The Downside of Being a Beneficiary

Rivkin Radler LLP on

Death of a Parent- In the context of a family-owned business, it is often the case that the matriarch or patriarch of the family is also the chief executive of the business. They may have founded the business, or they may...more

Fox Rothschild LLP

Divorcing the Wealthy is Often a Matter of “Trusts”

Fox Rothschild LLP on

I received a call recently from a colleague looking to refer a client for a divorce. Our firm had done estate planning for the client and spouse, thus we were not eligible to represent either party in a marital break up as...more

Warner Norcross + Judd

May the Surviving Co-grantor of a Joint Trust Amend or Revoke the Trust After the Death of the First Grantor?

Warner Norcross + Judd on

It is not uncommon for a husband and wife in a second marriage situation to create a joint trust, naming all their respective children from their prior marriages as the equal remainder beneficiaries. If the surviving spouse,...more

Rivkin Radler LLP

Trusts, the Death of a Shareholder, and The S Corporation Election

Rivkin Radler LLP on

The Key Person- The closely held corporation is often a fragile creature. Too often, its continued success and well-being are overly dependent upon the continued involvement of one individual – namely, the founder and...more

Fox Rothschild LLP

Don’t Let Your Dead Body Become “A Loose Ball.”

Fox Rothschild LLP on

Forgive the title but this is written amidst the Eagles-Vikings game and on the same date as Queen Elizabeth’s funeral. Commentators noted that the Queen’s final event was more than a generation in the planning and was...more

Shumaker, Loop & Kendrick, LLP

The Estate Planner, September/October 2022

Estate planning for the happily married - Hedge your bets with a SLAT One of the biggest challenges of estate planning is dealing with uncertainty. For 2022, for example, the federal gift and estate tax exemption is $12.06...more

Adler Pollock & Sheehan P.C.

QTIP Trust: Strange Name, Powerful Trust

Granted, a QTIP trust is an odd sounding name for an estate planning technique. Nevertheless, it can be a valuable strategy, especially if you’re currently in a second marriage. The QTIP moniker is an acronym for the...more

Downey Brand LLP

Unilateral Severance of Joint Tenancy Must Be Unequivocal and Irrevocable

Downey Brand LLP on

Can a California will sever a joint tenancy such that the decedent’s interest in real property passes per will’s terms instead of vesting in the surviving joint tenant(s)? Additionally, when a general partnership dissolves...more

Winstead PC

Court Holds That Trust Owned Mineral Interests And Not The Settlor’s Wife

Winstead PC on

In Moore v. Estate of Moore, a decedent’s wife claimed that she had an interest in an oil and gas lease formerly owned by her deceased husband. No. 07-20-00019-CV, 2021 Tex. App. LEXIS 6142 (Tex. App.—Amarillo July 30, 2021,...more

Ward and Smith, P.A.

Preventing Trust and Estate Disputes

Ward and Smith, P.A. on

The death of a loved one should be a time for a family to come together.  As a trust and estate litigator, unfortunately, I often see families fall apart.  Every family's situation is different, but certain issues seem to...more

Downey Brand LLP

Immortal Right — Income Beneficiary’s Entitlement to Accounting Continues after Death

Downey Brand LLP on

Many California trusts confer a lifetime right to income on a person (often the surviving spouse) with the remainder passing to designated survivors upon the income beneficiary’s death. When the income beneficiary dies, is it...more

Cole Schotz

Business Succession Planning – Should I Own My Business In A Trust?

Cole Schotz on

Closely-held businesses come in all shapes and sizes. Some owners own 100% of their businesses. Some have partners. Some have children in the business. Some do not. A common question that a client asks the business and...more

Farrell Fritz, P.C.

The Year-End: A Time For Ignoring The Holidays And Disclaiming Gifts (For Tax Purposes)

Farrell Fritz, P.C. on

Happy Holidays? Bah Humbug! The “holiday season” is once again upon us. A time to spend with family and friends, a time for gift-giving (and re-gifting), for songs and for story-telling, and a time for remembering those...more

Tarter Krinsky & Drogin LLP

Law Brief: Alexis Gruttadauria and Rich Schoenstein Discuss Why You Need an Estate Plan

Trusts and Estates Attorney Alexis Gruttadauria joins host and Litigation Partner Rich Schoenstein to discuss “Why You Need an Estate Plan” on the latest episode of Law Brief. Lexi and Rich delve into the legal disposition of...more

Downey Brand LLP

California Legislature Cracks Down on Caregivers Who Marry Dependent Adults

Downey Brand LLP on

Many California financial elder abuse cases we see involve caregivers. While the vast majority are honest, a caregiver who spends many hours alone with a vulnerable client has a unique opportunity to exploit the situation. A...more

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