Law Brief: Alexis Gruttadauria and Rich Schoenstein Discuss Why You Need an Estate Plan
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
Dying without a valid will in place is never a good idea. In the absence of your testamentary intent your assets are left to the whims of the current intestacy laws of the state in which you reside. In Maryland, those laws...more
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
What is known as the IRS survivor’s penalty, and is there anything that can be done to provide for a surviving spouse as we age? The “survivor’s penalty” is the likelihood that a surviving spouse will face higher federal and...more
As estate planning attorneys, a question that often arises with new and prospective clients is, “What happens if I die without a will?” The short answer is this: if you die without a valid will in Massachusetts, state law...more
On November 14, 2023, the Appellate Division decided an interesting case that implicated the intersection of family law, estate law and federal law. The reported (precedential) decision In the Matter of the Estate of Michael...more
When I first read the precedential ruling of the Pennsylvania Superior Court in Shell v. Shell, I really didn’t find it noteworthy enough to write about. This is a case where a spouse discovered that her husband was moving...more
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
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
Despite ultimately finding in favor of a taxpayer surviving spouse, IRS Private Letter Ruling 2023-22-014 (the “PLR”) is chock-full of reasons to ensure proper planning is in place when it comes to IRAs....more
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
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
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
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
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
In In re Estate of Wetzel, a widow and independent administrator of her husband’s estate appealed a trial court’s order denying her requested family allowance. No. 05-20-01104-CV, 2022 Tex. App. LEXIS 2618 (Tex. App.—Dallas...more
We write today about probate law, premarital agreements and the importance of doing your homework. In Estate of Eskra (2022) ___ Cal.App.5th.____, the First District Court of Appeal upheld a Humboldt County Superior Court...more
In general, estate planning benefits not only the principal’s life, but also the lives of their family members and agents. Prior planning includes wills, trusts, health care proxies, advanced health care directives and...more
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
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
Marriage is supposed to be “until death do us part,” but after one spouse dies, is it possible for a court to declare a marriage invalid (annulled)? It can happen, as a Nebraska widower recently learned, but only in certain...more
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
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
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
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