News & Analysis as of September 14, 2024

Asset Management

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Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process. less -

Once Removed Episode 24: Expressing Goals and Intent for the Trust

McGuireWoods LLP on 6/11/2024

For parents with young children, naming the guardian who will raise their children upon the parents’ passing can be one of the most important and foundational questions of an estate plan. And in fact, because this decision is...more

The Estate Planner, January/February 2024

Shumaker, Loop & Kendrick, LLP on 12/27/2023

Married couples: Joint or separate trusts? Revocable trusts are a key component of many estate plans. Among other things, these trusts allow you to minimize probate expenses, keep your financial affairs private and provide...more

Who Has The Duty To Prepare An Accounting When The Trustee Dies Or Becomes Incapacitated?

Winstead PC on 12/20/2023

Beneficiaries of trust can face a difficult situation when the trustee of their trust either dies or becomes incapacitated. They may have many questions about the trust, such as what assets are in the trust or should be in...more

Estate Planning: A Gift for Your Loved Ones

Dunlap Bennett & Ludwig PLLC on 11/29/2023

This is the time of year when folks are trying to find the perfect gifts for their loved ones and are also thinking about their New Year’s Resolutions. Wouldn’t it be great if these could be combined into one? An old Saturday...more

A Primer On Trusts - A Podcast with Janathan Allen

Allen Barron, Inc. on 10/17/2023

We invite you to listen to our podcast, A Primer on Trusts with Janathan Allen. We begin with an overview of several key terms associated with a trust including: Trustee, Grantor, Beneficiary, Executor, Pour Over Will,...more

Should I Use a Professional Advisor as My Trustee?

Warner Norcross + Judd on 9/1/2023

Selecting the person or institution who will act as your trustee is one of the most important decisions you and your family members will make. For the task of managing your trust, it is natural to want to choose a family...more

The Estate Planner, September/October 2023

Shumaker, Loop & Kendrick, LLP on 8/16/2023

Preparing for 2026 - Four ways to build flexibility into your estate plan - January 1, 2026, is a significant date for estate planning. On that day, the federal gift and estate tax exemption amount set by the Tax Cuts...more

Named As A Trustee And Wondering What To Do? Here Is A Checklist Of Duties To Get You Started

Cole Schotz on 8/8/2023

Maybe a friend or a relative has recently passed away and you just received a communication informing you that you have been named as a trustee. You have no idea what this role entails, and you feel overwhelmed having no...more

Essential Things To Know About Trust Administration

Dunlap Bennett & Ludwig PLLC on 7/5/2023

If you have been named as the trustee of a trust, you may be wondering what your responsibilities are and how you can fulfill them. This article offers an overview of trustee duties and highlights the legal risks of serving...more

I’m a Trustee. Can I Withhold Money from an Irresponsible Beneficiary?

Burns & Levinson LLP on 6/8/2023

Many trusts are established with the goal of protecting assets and ensuring the longevity of those assets for future generations. A trustee then may wonder if they have the authority to withhold money from a beneficiary who...more

Is it Time to Update Your Estate Plan?

Amundsen Davis LLC on 6/7/2023

Things change; a periodic review of your estate plan is an important part of plan maintenance. Your basic estate plan (will, trust, powers of attorney, etc.) can be amended whenever necessary. It’s important to consider your...more

Texas Supreme Court Holds That The Incorporation Of AAA Rules Can Delegate Scope Issues To The Arbitrator, Which May or May Not...

Winstead PC on 5/5/2023

The Texas Supreme Court held that arbitration clauses in trust documents may be enforced regarding claims by beneficiaries against trustees. In Rachal v. Reitz, a beneficiary sued a trustee for failing to provide an...more

When One Is Not Enough: Dividing Fiduciary Powers and Dispositions - Presentation

Winstead PC on 5/5/2023

Winstead Shareholder David F. Johnson participated in a panel presentation entitled “When One Is Not Enough: Dividing Fiduciary Powers and Dispositions” for the State Bar of Texas’s 29th Advanced Estate Planning Strategies on...more

Probate & Fiduciary Litigation Newsletter - May 2023

Goulston & Storrs PC on 5/3/2023

This newsletter is intended to keep readers informed about developments in probate and fiduciary litigation in Massachusetts and New York. ...more

Probate or Non-Probate Asset? – The Ins and Outs of Different Types of Ownership

Burns & Levinson LLP on 3/2/2023

Retitling your assets to conform with your desired plan is essential to successful estate planning. Whether this means changing ownership of an asset altogether, adding a joint owner, or changing a beneficiary designation,...more

Capacity and Estate Planning: What You Need to Know

Burns & Levinson LLP on 12/1/2022

As our loved ones get older, we want to ensure that they have planned for their future. This often means having an estate plan in place to handle the distributions of their assets upon their passing or to plan for their...more

How Appointing an Attorney-in-Fact Can Benefit Your Life

Burns & Levinson LLP on 11/16/2022

There may come a point in life when you – or a loved one –need a trusted family member, friend, or professional to assist with your property and financial affairs and decision-making. Since that point may come when you are...more

Probate & Fiduciary Litigation Newsletter - October 2022

Goulston & Storrs PC on 10/11/2022

Power of Attorney Did Not Provide Authority to Create a Trust on Behalf of the Elder Who Granted the Power of Attorney - Barbetti v. Stempniewicz, 490 Mass. 98 (Sup. Jud. Ct. June 28, 2022) Does a power of attorney...more

The Estate Planner, September/October 2022

Shumaker, Loop & Kendrick, LLP on 9/6/2022

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

Joint Pains

Sands Anderson PC on 8/15/2022

A lot of my work as an estate planning attorney is talking with clients to get a thorough understanding of their assets, family, and planning goals so I can help them carry out those goals. Something I hear frequently, which...more

Fun and Games and…Estate Planning?

Sands Anderson PC on 7/15/2022

When we take seemingly mundane tasks and turn them into a game – like who can pick up the toys on the floor the fastest – those tasks suddenly become more fun and easier to accomplish. The gamification process works so well...more

The Estate Planner, July/August 2022

Shumaker, Loop & Kendrick, LLP on 6/29/2022

Asset protection - How to shield your wealth from lawsuits and creditors - Much of estate planning focuses on transferring your wealth to loved ones in a taxefficient manner. But for many people, it’s equally important...more

Planning in Panic Mode

Sands Anderson PC on 5/11/2022

A few years ago, I spent a memorable weekend going back and forth between my office and a client’s hospital room. I spent hours sitting at hospital cafeteria tables or by my client’s bedside while he waited for an operation,...more

Probate & Fiduciary Litigation Newsletter - April 2022

Goulston & Storrs PC on 4/20/2022

This newsletter is intended to keep readers informed about developments in probate and fiduciary litigation in Massachusetts and New York. Our lawyers are at the forefront of this area of the law, shaping how it is handled in...more

What New Family Trustees Need to Know

Woodruff Sawyer on 2/23/2022

When a family member or friend asks you to become their trustee, it conveys a high level of trust in you. However, many of our clients tell us that they did not fully understand the enormity of the job when they accepted it....more

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